- (1.) PERMISSION to file the special leave petitions granted. Delay condoned. Leave granted.
(2.) THE plaintiff in the suit is the appellant before us. In view of the order proposed to be passed by us, it is not necessary to state the facts of the matter in great detail. Suffice it to say that a suit before the High Court was filed by Tamilnad Mercantile Bank Ltd., the appellant herein seeking for permanent injunction restraining the defendants, their men or servants or any other person claiming under them from preventing the member, whose name is registered in the register of members of Tamilnad Mercantile Bank Ltd. or their duly authorised proxies lodged, from participating and exercising their voting rights in the annual general meeting of the Bank. In the said suit an application for injunction was filed. The learned Single Judge who took up the injunction application filed by the appellant herein, upon hearing learned counsel for the parties and having regard to the provisions contained in Art.85 and 86 of the articles of association of the Bank passed the following order: "The following considered order is passed with consent of Mr Venkatachalapathy, learned Senior Counsel appearing for the plaintiff applicants, Mr A. K. Somayaji, learned Senior Counsel appearing for Tamilnad Mercantile Bank Ltd., and Mr Harikrishnan, learned Senior Counsel appearing for the existing Directors who are seeking reelection. If any shareholder has executed a general power of attorney in favour of any particular person and such general power of attorney is duly registered and intimated to the Bank as required under Art.85 of the memorandum of association of Tamilnad Mercantile Bank Ltd., such persons who satisfy the requirement of Art.85 of the memorandum of association will be permitted to vote in the place of shareholder who has 5 executed such power of attorney in favour of such person. Those shareholders who have not executed such general power of attorney, but whose names are found in the register as members of Tamilnad Mercantile Bank shall be permitted to vote and the respondent - defendants should not prevent them from exercising their franchise or participating in the annual general meeting. However, in view of the disputes between the parties, the learned Principal District Judge, Tirunelveli is appointed as an observer to observe the entire proceedings of the annual general meeting and file an independent report in a sealed cover before this Court."
(3.) THE observer appointed by the High Court in terms of the said order submitted a report. Relying upon the said report of the learned observer, the appellants filed an application for initiating a contempt proceeding on the ground of alleged disobedience of the Court's order on the part of the alleged contemnors herein.;