TaxTMI 
TaxTMI 
1989 (3) TMI 342
X X X X Extracts X X X X
X X X X Extracts X X X X
....ondent. JUDGMENT K. Ramaswamy, J. - The appellant is one of the directors of Rainbow Sea Foods P. Ltd., a company registered under the Companies Act, 1956, under Certificate of Incorporation No. 9163 of 1982, dated January 16, 1982. It consists of the four first directors under article 33(a), viz., (i) C. Pattabhiraman ; (ii) C. Renie Fernando ; (iii) M.A. Rajendran, and (iv) S.A.P. Fernando, t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nie Fernando and M.A. Rajendran. The plaintiff-respondent No. 4 herein, C. Pattabhiraman, has stated in the plaint that, after taking over possession of the vessel "Sunshine", he was excluded from participation in the fishing operations, etc. As a result, C. Pattabhiraman laid O.S. No. 2 of 1987 for rendition of accounts. Pending the suit, I.A. No. 8 of 1987 was filed for an ad interim injunction ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ot maintainable in view of the fact that it is a company registered under the Companies Act and that, therefore, the interlocutory application also is not maintainable. It is unnecessary to go into that question at this stage. Suffice it to state that it is a matter to be gone into at the trial. It is found by the court below that the possession of the vessel "Sunshine" was taken by the appellant.....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y formed and registered under the Companies Act, 1948, or preceding Companies Acts. Any such purported appointment is a nullity. This was stated following the ratio in Budgett v. Improved Patent Forced Draught Furnace Syndicate Ltd. [1901] WN 23. The reason stated therein was that, in case of companies, an accountant is very frequently appointed. It is only in special circumstances that the court ....