Rajiv Sahai Endlaw, J.

1. The plaintiff claims:

(i) that M/s Visesh Infotecnics Ltd. (VIL) is a public limited company;

(ii) that the defendant was a Joint Managing Director of the said company holding about 11,000 shares in his name;

(iii) that in the year 2004, the plaintiff purchased the majority shares in the said company and took over the management thereof from the erstwhile management and assumed the position of chairman of the said company;

(iv) that the plaintiff, for the sake of continuity, allowed the defendant to continue with the company and gave him the position of Managing Director in the company making him the senior most official of the company;

(v) that the plaintiff was also in management of another company viz. MPS Technosoft Ltd. (MPS);

(vi) that the defendant by virtue of being the Managing Director in VIL also started advising the plaintiff about the affairs of MPS and suggested various expansion plans / new business ventures for VIL as well as MPS;

(vii) that in April, 2004, the defendant represented to the plaintiff that he was facing difficulties in convincing investors and clients that he was stable in MPS and VIL as the investors and clients wa