9911796707
TMI Blog1960 (10) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... agency agreement between the respondent company and the Indian Textile Syndicate (Private) Limited be terminated and the said Indian Textile Syndicate (Private) Limited be removed from their office as managing agents of the respondent company. (b)That the existing sole selling agency agreement between the respondent company and the Kanpur Agencies (Private) Limited be terminated and that the said Kanpur Agencies (Private) Limited be removed from their office of the sole selling agents of the respondent company. (c)That respondents Nos. 2, 3, 4, 5 and 9 be removed from their office as directors of the respondent company. (d)That the respondents or one or more of them be ordered to contribute such sum or sums of money to the assets of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ving rise to the application did not survive after the death of Sri Bagla against his heirs and there is, therefore, no question of the heirs being impleaded in the present proceedings. At one stage, a question arose as to whether Sri Bagla had left a will and his estate could on that account be said to be represented by an executor or an administrator. The applicants could not trace out any will and on behalf of the proposed heirs Sri Jagdish Swarup, their learned counsel, had stated that to the best of the knowledge and information of the heirs Sri Hari Shanker Bagla had not left a will at his death. In this state of affair-s there can be no question of the estate of the deceased being represented by an executor or administrator. The si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the words of sub-section (2) of section 398. That sub-section provides as follows: "398. (2) If, on any application Under sub-section (i ), the court is of opinion that the affairs of the company are being conducted as aforesaid or that by reason of any material change as aforesaid in the management or control of the company, it is likely that the affairs of the company will be conducted as aforesaid, the court may, with a view to bringing to an end or preventing the matters complained of or apprehended, make such order as it thinks fit." It will be noticed that the intention of the legislature in enacting the sub-section was to arm the court with full powers if it was of opinion that the situation mentioned in sub-section (1) of sect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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