HUNGERFORD INVESTMENT TRUST LTD. Vs. TURNER MORRISON CO. LTD. & ORS.
LAWS(CAL)-1996-10-28
HIGH COURT OF CALCUTTA
Decided on October 08,1996

HUNGERFORD INVESTMENT TRUST LTD. Appellant
VERSUS
Turner Morrison Co. Ltd. And Ors. Respondents


Referred Judgements :-

SUKHLAL V/S. TARA CHAND [REFERRED TO]
KHOSH MOHAMED V/S. NAZIR MAHOMED [REFERRED TO]
KHOSH MAHOMED V/S. NAZIR MAHOMED [REFERRED TO]
HIRDAY NATH ROY V/S. RAMACHANDRA BAMA SARMA [REFERRED TO]
SOHAN LAL VS. STATE [REFERRED TO]
RAGHUNATH DAS VS. SUNDAR DAS KHETRI [REFERRED TO]


JUDGEMENT

N.K. Batabyal, J. - (1.)This appeal is directed against the Judgment and order of dismissal of an application under Ss. 397 and 398 of the Companies Act, in relation to the affairs of Turner Morrison Co. Ltd. (Hereinafter referred to as T.M.L.). The details of the respective cases of the parties have been dealt with elaborately in the judgment of my LD. Brother. Mr. Justice B.M. Mitra delivered separately. So, it is unnecessary to go into those facts. The point on which the LD. Counsel have addressed the court was only the point whether the case could be disposed of on affidavits in view of the order dt. 11.12. 91 allowing the application by the appellant for Trial on evidence. During the pendency of the proceeding, applications were filed oh behalf of the appellant from time to time for deciding the suit after taking on oral evidence because of the serious allegations of fraud, misrepresentation, malfeasance, misfeasance, etc. involved in issue. The first such application was filed on 4th April, 1990: it was dismissed with costs on 5th April, 1990. An appeal filed by Hungerford Investment Trust Ltd. (hereinafter referred to as H.I.T.) from the said order was also dismissed by the LD. Appellate court on 4th May. 1990. On 27th June, 1990, Mr. N. S. Hoon, Chairman, H.I.T. appeared in person and filed another application for trial on evidence on the same materials. The said application was again dismissed on 31st July, 1990. On 4th December, 1990, an injunction application was taken out by the H.I.T. for restraining Turner Morrison Ltd. from disposing of the assets of the Company. Ad interim order of injunction in terms of prayer (a) was passed by Hon'ble Mr. Justice Umesh Chandra Banerjee, restraining the Board of Directors of T.M.L. from disposing of the assets of the Company. The said order was subsequently confirmed by Hon'ble Mrs. Padma Khastgir J. (as her Lordship then was). But the injunction application was released by the Hon'ble Mr. Justice U.C. Banerjee on 25th January, 1991, in view of the allegations made by the HIT in its rejoinder. The main matter which was not released by Justice U.C. Banerjee, was mentioned without notice for listing before the Hon: Mrs. Padma Khastgir, J. Her Lordship was pleased to direct that the main application under Ss. 397 and 398 of the Companies Act. be placed for the list (Company Matter adjourned) though the LD. Advocate for the T.M.L. submitted that the main matter was not released by Hon. Mr. Justice U.C. Banerjee. On 5th March, 1991, on behalf of the H. I. T. another application for trial on evidence was filed before Hon. Mr. Justice S.C. Sen (as His Lordship then was) in the absence of Mrs. Padma Khastgir, J. Hem. Mr. Justice S.C. Sen directed the matter - to be placed to the list of Mrs. Padma Khastgir, J. on 25th March. 1991. On 26th March,. 1991 the application for trial on evidence was heard and the order was reserved. After nine months, on 11th December, 1991 Hon. Mrs. Khastger. J. allowed the application made by the HIT for trial on evidence directing that the main matter be set down on trial
(2.)In the mean time on 26th April. 1991. Hon. Mr. Justice U.C. Banerjee released the main application.
(3.)An appeal was preferred by TML against the order dated 11th December. 1991. A Division Bench of this Court presided over by the Hon. Mr. Justice Shamsuddin Ahmed on 28th April. 1992, dismissed the appeal preferred by TML on the ground that it was not an appealable order. An S.L.P. was preferred against that order on behalf of TML. On 24th July, 1992, the SLP came up for admission before the Hon'ble Supreme Court. The application, on the submission of the LD. Counsel for the TML, was allowed to be withdrawn.
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