An agency coupled with an interest cannot be revoked to the prejudice of the agent's interest without an express contract.

JUDGMENT :

(Krishna Rao, J.) :

1. The plaintiff has filed the present application praying for an injunction restraining the defendants, their men, their agents, assigns and representatives from publishing and circulating any letter, material, correspondence and articles containing the statements as mentioned in paragraph 34 of the present application.

2. The plaintiff is the Director of the business under the name and style of KAHM Industries Private Limited (formerly known as Lindsey Towers Private Limited) (hereinafter referred to as KAHM) having its registered office at 13, Nellie Sengupta Sarani, Kolkata -700087.

3. The defendant no.1 is the Director and defendant no. 2 is the Managing Director of the Company namely Punalur Paper Mills Ltd. (Hereinafter referred to as Punalur).

4. There are several litigations pending before the learned 10th Bench of the City Civil Court, Kolkata as well as before this Court between KAHM and Punalur.

5. To adjudicate the present application filed by the plaintiff, the facts of the several litigations are pending before the Courts for adjudication is required to be narrated, which are as follows:

6. On May 15, 2010, an agreement was entered between Punalur and KAHM which not only acknowledges that the third parties became the majority shareholder of Punalur but also reaffirms and reiterates that KAHM would have the right to prosecute and defend all litigations and proceedings concerning the acquisition proceedings and would have the exclusive right to receive and recover the compensation amount in respect of portion of the suit property which were the subject-matter of litigation in the name of Punalur but at its cost and for such purposes, KAHM would be entitled to operate a separate Bank account being No. 0015-608737-060 (previous Account No. 200001818875) with IndusInd Bank situated at 3A, Upper Wood Street Branch, Kolkata in the name of Punalur for the purpose of depositing, realising and encashing the amount of such compensation and any other amount as may be received in respect of the portion of the suit property. The agreement also provided that Punalur would execute an irrevocable Power of Attorney in favour of KAHM or its nominee authorising them to represent Punalur in all ITS litigations. The said agreement was signed by the majority shareholders of Punalur including Mr. T.K. Sundaresan, Chairman, whole time Director and one of the plaintiff in suit No. 613 of 2021.

7. By virtue of the minutes of meeting of the Board of Directors dated October 19, 2011, Shri T.K. Sundaresan being the whole time Director of Punalur executed a Power of Attorney in favour of Mr. Kunal Dalmia and Mr. Ranoj Roy Chowdhury as the lawful Attorney of the Punalur. In terms of the agreement dated May 15, 2010 and the Power of Attorney executed in favour of the aforesaid two persons, compensation proceedings were pursued and out of several proceedings initiated, in one of such land acquisition proceeding concerning acquisition of the basement and ground floor of the property in question, a decree was passed on December 6, 2018 by the learned District Judge, Alipore in respect of LA Case No. 38 of 2007 for an amount of Rs. 27 crore. The State of West Bengal initiated an appeal against the said award and during the pendency of the appeal, on the submission made by the State of West Bengal that there was a mistake in calculation, instead of Rs. 27 crore, the figure should be Rs. 18,11,40,003/-and the Hon’ble Division Bench permitted Punalur to withdraw 50% of an amount without security and for release of the balance 50% of Rs. 18,11,40,003/-upon furnishing security was left open to be decided, if any, formal application is made by Punalur. As per the aforesaid order, Mr. Ranoj Roy Choudhury being one of the Power of Attorney holder of Punalur received the demand draft of Rs. 9,05,70,001.50/-on June 1, 2021 and deposited the said in the designated bank account.

8. The dispute started after the order dated Januar