TMI Blog2007 (6) TMI 574X X X X Extracts X X X X X X X X Extracts X X X X ..... t Ltd., The Vijaya Leasing Ltd., The Vijaya Management Services Pvt. Ltd., Smt. Bellipadi Kalyani, Mrs. Vidya R. Rai, K.T. Alva, Satish Chandra Hegde B.T. Ravindranath Puna - 2007 (6) TMI 574 - KARNATAKA HIGH COURT - TMI - - - Company Application No. 352/2007 In Company Petition No. 35/1987 - - - Dated:- 6-6-2007 - Mr. Justice K.L. Manjunath Sri. KK.G. Raghavan, Sr. Counsel for. Advocate Sr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roperty of. the company bearing T.S. No.168. of rat Ward, Balmatta Road, Mangalore-1, either by way of joint development or otherwise ana grant such other relief. According to the applicants, contrary to the objects of the company, agenda No. 6 would be discussed in the annual general meeting to be held on 8.6.2007 and in a clandestine manner the company s property would be disposed of under the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the application. 3. During the course of the arguments, it is brought to the notice of the court that applicants have .an apprehension that if the resolution is passed in the Annual General Meeting, directors of the company may in a clandestine manner deal with the property. for their benefit and not in the interest of shareholders. According to Mr. Raghavan, Learned senior counsel, there is n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the dealings in a transparent manner, this court cannot grant any injunction in favour of the applicants since Memorandum of Association provides for dealing the property of the company either to sell the same or dispose of for such consideration as the company may thinks fit. 5. In the circumstances, C.A.352/2007 is rejected recording the submissions of the learned senior counsel appearing f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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