DIWAN SINGH Vs. MINERVA FILMS LTD.
HIGH COURT OF PUNJAB AND HARYANA
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Tek Chand, J. -
(1.) The shareholders of this company are sharply divided into two groups and for a considerable time there has been a bitter struggle between these two groups for obtaining control of the company. On the application of both groups, I passed an order under section 186 of the Companies Act, 1956, on the 22nd of Aug., 1957, directing that a meeting of the shareholders of the company be called for the 12th of Oct., 1957, at its registered office at Sonepat. There were two agendas proposed by the two groups and I directed that both the agendas should be considered at the meeting and, if thought fit, resolutions might be passed in accordance with the" agendas with or without modifications as may be proposed at the meeting. Shri D.N. Awasthy, advocate, was to be the chairman and Shri Satish Chander Mital, advocate, was to be the alternate chairman. After giving notice of the meeting as directed in my aforementioned order, a meeting of the shareholders was held. The chairman has submitted his report and objections have been filed on behalf of Ch. Diwan Singh to the report of the chairman, dated the 30th of Oct., 1957, and written reply has also been filed to the above objections by respondents Nos. 2 to 18.
(2.) Shri Bhagirath Dass, on behalf of Diwan Singh, has confined his arguments to three objections. His first objection is that three shareholders, Hardwari Lal, Daryao Singh and Dharm Singh, were in arrears on the 11th of Oct., 1957, and they ought not to have been allowed to exercise the right of vote.
(3.) His second objection is that there were certain minors who were shareholders and by reason of their minority neither they nor any other person on their behalf could vote at the meeting. No proxies could even be signed on their behalf. There are nine such minors whose votes have been included and the total number of 'A' class shares held by them comes to 650.;
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