2007 (6) TMI 574

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.... Ltd., The Vijaya Leasing Ltd., The Vijaya Management Services Pvt. Ltd., Smt. Bellipadi Kalyani, Mrs. Vidya R. Rai, K.T. Alva, Satish Chandra Hegde B.T. Ravindranath Puna<br>Companies Law<br>2007 (6) TMI 574 - KARNATAKA HIGH COURT - TMI<br>KARNATAKA HIGH COURT - HC (Judgement / Order / Decisions)<br>Dated:- 6-6-2007<br>Company Application No. 352/2007 In Company Petition No. 35/1987 - -<br>Corpo....

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....easing, letting out or in anyway otherwise disposing of or dealing with the schedule property of. the company bearing T.S. No.168. of rat Ward, Balmatta Road, Mangalore-1, either by way of joint development or otherwise ana grant such other relief. According to the applicants, contrary to the objects of the company, agenda No. 6 would be discussed in the annual general meeting to be held on 8.6.20....

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....ors have placed the subject for discussion. Therefore, he requests the court to reject the application. 3. During the course of the arguments, it is brought to the notice of the court that applicants have .an apprehension that if the resolution is passed in the Annual General Meeting, directors of the company may in a clandestine manner deal with the property. for their benefit and not in the i....

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....lution is passed, the respondents' directors are willing to invite tenders and finalise the dealings in a transparent manner, this court cannot grant any injunction in favour of the applicants since Memorandum of Association provides for dealing the property of the company either to sell the same or dispose of for such consideration as the company may thinks fit. 5. In the circumstances, C.A.35....