INDIA SUGARS AND RENNERIES LTD Vs. ESTATE OF THE LATE V RAMALINGAM
HIGH COURT OF MADRAS
INDIA SUGARS AND RENNERIES LTD.
ESTATE OF THE LATE V.RAMALINGAM
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(1.) THESE two appeals arise out of two suits filed by the appellant, the India Sugar Refineries Ltd. , by its director and Managing Agent, T. Padmanabhan, for recovery of sums of money from the estate of one V. Ramalingam, who was a director of the company and also its sole managing agent from 16-11-1933 till the date of his death 18-121942. The plaintiff company was incorporated under the Indian Companies Act with the principal object of manufacture of sugar at Hospet. By its memorandum of association, Messrs. Ranganathan and Co. , a partnership firm, were appointed managing agents of the company. The firm continued to hold that Office till they resigned that office in or about July 1935. Subsequent to this, an agreement was entered into by the company with V. V. Ramalingam under winch the latter was appointed its sole managing agent on terms set out in the agreement. V. Ramalingam as the managing agent was entitled to receive a salary of Rs. 800 per mensem together with a commission of 7 1/2 per cent per annum on the total net annual income of the company. Besides these, he was also entitled to a commission in respect of work done by him in capacities other than that of a Managing Agent. More detailed reference will be made to the material terms in due course in this judgment.
(2.) IN the two suits out of which these appeals arise, the company claimed various amounts on the ground that Ramalingam had wrongfully been paid those amounts or had drawn those amounts or was otherwise liable to pay the company the amounts which he had received. The learned District Judge of Bellary who tried both the suits dismissed them with costs. There was another suit which was tried along with these two, claiming more or less similar reliefs, and that too was dismissed.
(3.) IN the two appeals, the learned Advocate General who appeared for the appellant company pressed before us only certain items among the several items claimed by the company in the suits originally.;
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