- (1.) Admittedly, the petitioner was one of the Directors of M/s. Argosy Finance & Industrial Investments (I) Ltd. The respondent Nos. 3, 4 and 5 are the other Directors of the said Company.
(2.) The petitioner voluntarily resigned from Directorship of the said Company on 25th July, 1989.
(3.) A recovery proceeding was initiated against the said Company for realization of its provident fund dues to the extent of Rs. 1,27,000/- for the period from August 1985 to August 1986.;