Panchapakesa Ayyar, J.-This is an appeal by the Bank of Hindustan Ltd., (now in liquidation) by its Joint Official Liquidators, the Official Receiver of this Court and Messrs. Brahmayya and Co., the first defendant in C.S. No. 525 of 1948 and Application No. 1229 of 1951 on the file of this Court, against the Judgment and Decree of Ramaswami Gounder, J., declaring that the plaintiffs, Kowtha Suryanarayana Rao and the Indian Commerce and Industries Co., Ltd., represented by him as governing director, were entitled to have their names, which stood registered in the books of the appellant company, as holders and owners, cancelled, and omitted in respect of 1608 partly paid up shares of Rs. 90 each (only Rs. 40 out of each share having been paid up) standing registered in the name of the first plaintiff, and of 60 other similar shares standing registered in the name of the second plaintiff in the books of the company, and directing the name of the second defendant, Saraf, to be registered as the holder and owner of the above 1668 shares in the books of the bank, and restraining the appellant bank and its liquidators by an injunction from making any call or taking any other proceedings

Click Here to Read the rest of this document