1969 (9) TMI 7

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.... textiles at Beawar. Article 75 of the articles of association of this company provided for the appointment of agents, secretaries, treasurers, chairman and managing director and for their remuneration. It runs as follows : "Rai Sahib Seth Kundan Mal, son of Seth Hansraj, proprietor of the firm of Seth Kundan Mal Lal Chand of Beawar, and Seth Vithal Das Rathi, son of Seth Damodar Das Rathi, proprietor of the firm of Seth Thakurdas Khinvaraj of Beawar, or their heirs, executors, administrators, successors, representatives or their duly authorised agents or such other person or persons as may from time to time be appointed by them shall be agents, secretaries, treasurers, the chairman and the managing director of this company and shall not b....

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....e State of Ajmer, was ordered to hold possession of the mills on behalf of the court. Shri Sharma commenced management of the mills with effect from 12th September, 1956. This order was vacated by this court on 1st July, 1957. This court, however, acting under section 398 of the Indian Companies Act, appointed Shri O. N. Sharma, Labour Commissioner of the State of Rajasthan, as receiver of the mills on 25th September, 1957, who remained in charge of the management of the mills up to 17th September, 1958. Then under the orders of this court, an interim board of management was appointed which managed the company from 17th November, 1958, to 30th May, 1959. On 30th May, 1959, a new board of directors was appointed with Shri Mardia, official li....