Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 1969 (9) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1969 (9) TMI 61 - SC - Companies LawWhether such a corporate body may be considered to be a fit and proper person for appointment or re-appointment as managing agent, and that the enquiry must cover all relevant activities and actions of the directors of the corporate body? Held that:- The High Court was right in holding that in determining whether Govan Brothers is a person fit and proper to be re-appointed managing agent, the past conduct and actings which were relevant to the issue had to be taken into account, i.e., the Board had to consider the entire conduct and actings past and present of the directors of Govan Brothers before rejecting the petition filed by the Rampur Company. The appeal filed by the Rampur Company must therefore fail. It must, however, be pointed out that the time during which the managing agency of Govan Brothers is to remain in operation is fast running out. The Solicitor-General appearing on behalf of the Company Law Board and the Union of India has assured us that with the co-operation of the Rampur Company, the Board will take steps to dispose of the application within one month from the date on which the order reaches the Company Law Board.
|