9911796707
TMI Blog1957 (3) TMI 44X X X X Extracts X X X X X X X X Extracts X X X X ..... has applied for the interim order dated 12th March, 1957, to be vacated or suitably modified. Mr. Dua, in the first place, contends that this court has no power to make any such interim order in a petition under section 186 of the Companies Act (1 of 1956). It is submitted that under section 186(1) the court may give only such ancillary or consequential directions as may be deemed expedient in rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffairs. It was, therefore, prayed that till the meeting was held and till such time as the newly elected board started functioning, the persons illegally in charge of the company be restrained from disposing of the assets of the company. If the allegations were true, it was incumbent on the court to issue directions for the proper management of the company during the pendency of the proceedings. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt. It is next submitted that the company had entered into agreements with the Punjab Government and the Railway Administration for the supply of a large number of electric meters within a specified time and that the meters had already been imported and they were to be paid for. The company stands to suffer a great loss if the agreements are not carried out and the meters supplied within the spec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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