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 626 - HIGH COURT OF MADRASMeetings and proceedings – interim injunction restraining the second respondent/defendant from holding out as managing director of the first respondent/defendant-company— directed the second defendant to convene a general body meeting of the first defendant-company and to elect board of directors in accordance with articles of association Held that:- Taking into consideration that the company is functioning without interim order ever since filing of the suit, we are not inclined to grant an order of interim injunction as was sought for by the plaintiffs. But as the general body meeting can be convened only in accordance with the provisions of the Companies Act at the instance of one of the shareholders, we set aside the last portion, paragraph 18 of the impugned order dated 24-8-1999, with liberty to eligible shareholders of the first defendant-company to take such steps so that the general body meeting of the first defendant-company in which the general body may take appropriate decision with regard to election of managing director of the company. The appeal is allowed in part and stands disposed of with the aforesaid observations.
|