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2002 Supreme(Mad) 70

S.JAGADEESAN, P.D.DINAKARAN
R. Vetriselvan – Appellant
Versus
Tamil Nadu Merchantile Bank Ltd – Respondent


Advocates Appeared:
Mr.S.Subbiah, Advocate for petitioner. Mr.R. Krishnamoorthy Senior Counsel for Mr.B. Sabaridass, Advocate for Respondent No.1; Mr.G. Subramaniam, Senior Counsel for Mr.B. Chandrasekaran, Advocate for Respondent No.2.

Judgment :

S. Jagadeesan, J.

1. Theappeals arise out of common order of the learned single Judge dated 10.1.2001 in Application Nos.855, 856, 4371 to 4373 and 4631 of 2000 inC.S.685 of 2000.

2. The appeals are taken up for final disposal jointly with the consent of the counsel appearing for the respective parties. The appellant filed the said suit C.S.685 of 2000 seeking the following reliefs:

“(a) declaring that the resolution dated 27.6.2000 passed by the first defendant bank, holding that the non disclosure of interest by the plaintiff at the time when the proposals of the third defendant were discussed at the Board meeting of the first defendant Bank would be violation of the provisions in Section 299 of the Companies Act, causing automatic vacation of office of the Director of the first defendant Bank, as null and void and unenforceable, illegal, arbitrary without jurisdiction and violating of the principles of natural justice and equity, and (b) consequently for mandatory injunction directing the first defendant bank to restore the office of the Directors of the first defendant Bank to the plaintiff (c) declaring that the opinion dated 24.6.2000 and 27.6.2000 given by the se



























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