- (1.) The suit was for specific delivery of assets belonging to the plaintiff, in the alternative a decree for a sum of Rs. 350 lakhs, a decree for specific delivery of books, papers, accounts, documents and other properties and assets belonging to the plaintiff and in the alternative a decree for Rs. 10,00,000/- as well as for perpetual injunction.
(2.) The plaintiff a limited liability company incorporation under the provisions of the Companies Act, 1956 was managed by its Board of Directors. The defendant was one of the Directors of the plaintiff. The plaintiff was a manufacturing company. In 1995 the company was manufacturing ferro alloys. It wanted to diversify to the business of manufacture and export of tea bags from Kolkata. The defendant assured the plaintiff that he would look after such business of the plaintiff to be set up in Kolkata.
(3.) The plaintiff, thereafter, adopted a Board Resolution on May 18, 1994. Such Board Resolution authorized the defendant to look after the tea bags manufacturing unit of the company at Kolkata.;