https://www.taxtmi.com/caselaws?id=99559 A newly elected managing director was treated as entitled to custody of the company's records, keys and cash because that entitlement flowed from his position as the person recorded to manage the company. Objection to locus standi was rejected on the basis that a managing director acts for the company and may possess its records and property on its behalf. The company court was also described as able to use its inherent powers under section 151 CPC read with rule 9 of the Companies (Court) Rules, 1959 to secure the company's functioning. Pending proceedings challenging the annual general meeting did not justify withholding company property, and such withholding was treated as abuse of process. en-us Tue, 10 Jan 1978 00:00:00 +0530 Fri, 27 Jan 2012 17:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99559 A newly elected managing director was treated as entitled to custody of the company's records, keys and cash because that entitlement flowed from his position as the person recorded to manage the company. Objection to locus standi was rejected on the basis that a managing director acts for the company and may possess its records and property on its behalf. The company court was also described as able to use its inherent powers under section 151 CPC read with rule 9 of the Companies (Court) Rules, 1959 to secure the company's functioning. Pending proceedings challenging the annual general meeting did not justify withholding company property, and such withholding was treated as abuse of process. Case-Laws Companies Law Tue, 10 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99559