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1958 Supreme(Mad) 197

BALAKRISHNA AYYAR
The Coimbatore Spinning and Weaving Co. Ltd. – Appellant
Versus
M. S. Srinivasan, Chartered Accountant, Coimbatore – Respondent


Advocates Appeared:
T.M. Krishnaswami Iyer and A. Balasubramaniam, for Petitioner; Government Pleader, for Respondent 1; Advocate General and V.V. Raghavan for Respondent 2; V. Thyagarajan and P.V. Marthandan, for Share-holders.

Judgement

ORDER :- This is a petition for the issue of a writ prohibiting the first respondent Mr. M.S. Srinivasan from holding an enquiry and conducting an investigation into the affairs of the Coimbatore Spinning and Weaving Co. Ltd., in pursuance of an order dated 10-4-1957 made by the Government of India.

2. The relevant facts are these. In May 1956 one Parameswara Iyer, a share-holder in the Coimbatore Spinning and Weaving Company Ltd., wrote fn the Registrar of Companies a letter in which he made various allegations against the management. He said that the Managing Agents

"have since their assumption of office been acting most selfishly jeopardising the interests of the company and have by frauds, misfeasance, mis-conduct, misappropriation and falsification of accounts and various other acts in contravention of law unduly enriched themselves at the expense and loss of the company causing loss not only to members but also to the Government by suppressing the true income and defrauding the taxes legitimately due."

He then proceeded to enumerate what he called a few of the major items of fraud and misconduct of the Managing Agents.

1. The Managing Agents of the company are a firm co



























































































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