( 1 ) SULEKHA Works Ltd. (hereinafter, referred to as the (Company) is a public Company which was incorporated in 1946. The objects of the Company inter alia are the manufacture of ink and allied products. The Company was promoted by the members of a family (hereinafter referred to as the Maitras) and four outsiders. A Private Company, viz. , Maitra Brothers and Co. Ltd. was and still is the Managing Agent of the Company. Sankaracharyya Maitra was the Managing Director of the Managing Agency Company and as such he was and is ex officio Director of the Company. He became the ex Offico Director in 1946 and is still such a Director of the Company.

( 2 ) THE Company was started with a paid up capital of Rs. 12,000/- only. With this small capital the Company carried on business in a small way until 1951, from which year the volume of its business showed a phenomenal rise. The balance sheets from 1951 to 1961 disclose remarkable progress in the prosperity of the Company, The, gross sales of the Company from year to year, set out below will give a true picture of the Company's progress:

Year Gross Sale

1950 Rs . 1,16,818/-

1951 Rs . 3,06,708/-

1952 Rs . 4,80,968/