https://www.taxtmi.com/caselaws?id=299668 The civil court had jurisdiction to entertain the suit as it involved allegations of ultra vires acts and oppression. The increments granted to the Chief Accountant did not require prior sanction as they were in line with the company's general policy. The special resolution regularizing the increments was deemed valid. The plaintiffs' reliefs seeking declarations and injunctions were dismissed as the court found no violation of Section 314. The appeal was allowed, and each party was directed to bear its own costs. The trial court's decision was affirmed, upholding the jurisdiction of the civil court and the validity of the increments under Section 314(1) of the Companies Act, 1956. en-us Tue, 15 Sep 1970 00:00:00 +0530 Fri, 24 Dec 2021 17:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299668 The civil court had jurisdiction to entertain the suit as it involved allegations of ultra vires acts and oppression. The increments granted to the Chief Accountant did not require prior sanction as they were in line with the company's general policy. The special resolution regularizing the increments was deemed valid. The plaintiffs' reliefs seeking declarations and injunctions were dismissed as the court found no violation of Section 314. The appeal was allowed, and each party was directed to bear its own costs. The trial court's decision was affirmed, upholding the jurisdiction of the civil court and the validity of the increments under Section 314(1) of the Companies Act, 1956. Case-Laws Indian Laws Tue, 15 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299668