Lord Thankerton.:-

The appellants, who are a merchant firm carrying on business in Bombay, seek to recover damages from the respondents in respect of the alleged wrongful termination of their employment as managing agents of the respondent company. By judgment and decree dated 12th October 1938, the High Court of Judicature at Bombay, in its civil appellate jurisdiction, affirmed the judgment and decree of that Court in its original civil jurisdiction, dated 15th February 1938, by which the suit of the appellants was dismissed with costs.

The respondent company is a joint stock company carrying on business at Bombay as spinners and weavers of cotton, jute and other fibres; the individ+++ual respondents, along with two other original defendants now deceased, were the directors of the respondent company who passed the resolution, dated 27th January 1933, which terminated the employment of the appellants as managing agents of the respondent company. The respondent company was formed in 1874, and by cl. 6 of the memorandum of association it was provided as follows:

"That the firm of Morarji Goculdas and; Co. of Bombay Merchants or whatever member or members that firm may for the time cons