Andhra Pradesh Court April 1965 Judgments

Mrs. Gajarabai M. Patny and ors. Vs. Patny Transport (Private) Ltd., S ...

Court: Andhra Pradesh

Reported in: AIR1966AP226

ORDERJaganmohan Reddi, J.1. This is a petition under Sections 397 and 398 of the Indian Companies Act, 1956, to direct the Managing Director of the respondent company to cancel the allotment of 50 shares to the Executive Director and remove her from the Board of Directors and also for the recovery of the lemuneration paid to her illegally from 15-8-1960; to cancel the allotment of 60 shares to the Managing Director's son Harsha P. Karmarkar; to invalidate the appointment of Technical Director; and for the appointment of a committee of share-holders of a Board of Directors to manage the affairs of the company, on the ground of oppression to the petitioners and mismanagement of the company.2. The several grounds on which the aforesaid reliefs have been asked are that some of the shares of the company are illegally transferred, some shares were not transferred, that dividends of the company have not been paid, that the Directors of the respondent company were paid in excess towards their ...