( 1 ) THIS is an appeal from an order of A. N. Ray J. refusing an application for an interlocutory injunction restraining the passing of certain resolutions of a company known as National Co. Ltd. at the proposed annual general meeting of the company. The appellant is a shareholder of the National Co. Ltd, The case of the appellant is that in the middle of 1961, the National Co. Ltd. purported to appoint in Calcutta one B. M. T. Commodity Corporation of New York State in the United States of America as its sole selling agent. After the said appointment the first general meeting of the National Co. Ltd. was held on July 17, 1961. On January 27, 1962. the board of directors of the said company by an agreement in writing appointed the said B. M. T. Commodity Corporation as its sole selling agent for the sale of jute backing cloth and ordinary burlap over the width of hundred inches manufactured by the said company for the territories of the United States of America, its possessions, Canada and Mexico with effect from February 1, 1962, inter alia, on the following terms and conditions :" (1) that National hereby appoint B. M. T. as its exclusive distributors in and f