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1999 Supreme(Raj) 495

MOHD.YAMIN
Bank of Rajasthan – Appellant
Versus
Manish Agarwal – Respondent


Advocates Appeared:
Paras Kuhad, for Petitioner S. Kasilwal, for Respondents (in SBC Rev. No, 738/99) S. Kasliwal, for Petitioner Paras Kuhad, for Respondents (in SBC Rev. No. 852/99)

Honble YAMIN, J.—These two revisions will be disposed of by this single order as they have been filed by both the parties against the impugned order dated 30.4.1999 passed by learned Additional District Judge No. 5, Jaipur City, Jaipur in Civil Suit No. 18/99.

(2). Brief facts are that the Bank of Rajasthan is a banking company incorporated and registered under the provisions of the Companies Act, 1956. A resolution was passed on 22.9.1995 in the Annual General Meeting of the company for taking requisite steps, measures and actions for bringing in additional capital. It was decided in the said general meeting that the Board of Directors of the company would be competent to take all proceedings and actions for enabling the company to come out with the bonus/rights issue at any time for the purpose of generating additional capital. Consequently, AGM made a reference on 28.9.1998 to the Reserve Bank of India seeking its approval for induction of five new Directors in the Board of Directors of the company. The Reserve Bank of India granted approval for induction of five Directors from Tayal Group with certain conditions. Accordingly five Directors from the Tayal Group were included into



















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