https://www.taxtmi.com/caselaws?id=97581 Managing directorship or joint managing directorship does not constitute a legal character or legal status for declaratory relief under section 42 of the Specific Relief Act, because the office derives solely from delegated managerial powers rather than an independent personality-based status. Company articles operate as a contract concerning members' shareholder rights and cannot be invoked by a non-shareholder to challenge board resolutions. Where the articles authorise directors to appoint a managing director from time to time and delegate powers, that authority may include an implied power to revoke the appointment and delegated powers unless expressly restricted. The claimed declaratory and injunctive reliefs therefore fail. en-us Mon, 06 Jan 1958 00:00:00 +0530 Tue, 17 Jan 2012 13:02:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97581 Managing directorship or joint managing directorship does not constitute a legal character or legal status for declaratory relief under section 42 of the Specific Relief Act, because the office derives solely from delegated managerial powers rather than an independent personality-based status. Company articles operate as a contract concerning members' shareholder rights and cannot be invoked by a non-shareholder to challenge board resolutions. Where the articles authorise directors to appoint a managing director from time to time and delegate powers, that authority may include an implied power to revoke the appointment and delegated powers unless expressly restricted. The claimed declaratory and injunctive reliefs therefore fail. Case-Laws Companies Law Mon, 06 Jan 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97581