1981 (8) TMI 190

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....aj Urs, J. - This petition under section 433(1)(f) of the Companies Act, 1956, is made by one of the shareholders, an ex-director of the company, praying for an order of winding-up on just and equitable grounds. Respondent No. 1-company was formed under the provisions of the Companies Act, 1956 (hereinafter referred to as "the Act"). The nominal capital of the company at the time of incorporati....

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....s the reason for her removal, in spite of the provisions to the contrary contained in the articles of association of the company. It was solely on the ground that she absented herself from three consecutive board meetings, with reference to which the company appears to have filed a return to the Registrar as required, stating that she ceased to be a director of the company. Petitioner has claimed ....

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....al loss as yet. Even if it is, I do not see how a shareholder can move for winding up of the company on that ground. No doubt the company has stopped its business somewhere in the year 1980. But the said letter at annex. B dated November 8, 1980, clearly indicates that some of the shareholders, at least, are interested in the working of the company once again. The learned counsel for the pet....