K.S.BHATT
PRAKASH ROADLINES LTD. – Appellant
Versus
VIJAYA KUMAR NARANG – Respondent
( 1 ) DEFENDANTS are the petitioners before me, questioning the order of the trial court upholding the maintainability of the suit. For the sake of convenience parties are referred with reference to their rankings in the trial court. Admittedly the plaintiff is a shareholder of the first defendant-company. He asserts that his shareholding constitute 10. 22% of paid up share capital of the company. The plaintiff took steps under sections 257 and 284 of the companies act ('the act' for short) by issuing notices under the said Provisions. According to the plaintiff, the second defendant managed/manoeuvred to effect a change in the directorship of the company and to become the chairman of the company. It is also stated in the plaint that one bharath bhushan narang became the deputy managing director. It is further alleged that these persons have been in management and control of the company and as such committed several illegal acts, benefiting themselves, etc. Therefore the plaintiff lodged with the company a notice under Section 284 read with Section 190 of the act giving notice of his intention to move four resolutions at the ensuing annual general meeting to be held
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