Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2008 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (1) TMI 615 - HIGH COURT OF MADRASInterim injunction restraining the third respondent, her men, agents and nominees from in any manner dealing with the property more-fully described in the judge’s summons - Held that:- As rightly contended by learned counsel for the third respondent that being a stranger to the company and being a bona fide purchaser, she is entitled to assume the internal affairs of the company are conducted properly and the officer-in-charge of the company has the necessary authorisation to do the act. Therefore, on the basis of the decision of this court in Nellai Metal Rolling Mills (P.) Ltd.’s case [1985 (4) TMI 284 - MADRAS HIGH COURT] the third respondent’s right is to be protected as she purchased the property for a valid consideration which was also admitted by the company. Therefore, C.A. Nos. 1899 and 1900 of 2007 are dismissed and consequently C.A. No. 2288 of 2007 is allowed and the interim injunction granted on 27-7-2007, is vacated. The only grievance of the proposed impleading applicants is that the property should be protected as he is holding a valid agreement of sale. If that being so, his interest will be very well protected in the pending suit in O.S. No. 45 of 2007 and he is an unnecessary party in the proceedings pending before this court.
|