NATIONAL TEXTILE CORPORATION UTTAR PRADESH LTD Vs. SWADESHI POLYTEX LTD

JUDGEMENT

(1.) THIS petition under Section 167 of the Companies Act, 1956 (hereinafter called "the Act"), was filed on October 7, 1997, by National Textiles Corporation (U. P.) Limited, having its registered office in Kanpur against Swadeshi Polytex Limited having its registered office in Ghaziabad, U. P. (hereinafter called "the company").

(2.) The petitioner-company is a shareholder of the respondent and the shareholding pattern of the respondent-company is as follows :

(3.) THE facts as contained in the petition are that the board of directors of the company consisted of seven directors, three representing NTC (U.P.) Limited and three representing the Swamp group and one nominee director of the IDBI.