- (1.) Leave granted.
(2.) M/s. Shree Bhaarathi Cotton Mills Private Limited is a company registered and incorporated under the Companies Act, 1956 (For short, 'the Act'). Out of the 2,84,000 equity shares in the company of Rs.10/- each, 2,83,999 shares are held by the first respondent and his son (appellant herein). The remaining one share is held by M/s. Visva Bharathi Textiles Private Limited, shares in which again is held equally by the first respondent and the appellant. Thus, for all intent and purport, all shares of the company are held by the appellant and the first respondent.
(3.) Whereas the first respondent is the Managing Director of the Company, the appellant is the Director thereof. Indisputably the parties are not on good terms.;