Supreme Court · 1968 INSC 341 · Decided 16 December 1968
Rohtas Industries LTD. v. S. D. Agarwal & ANR.
- Court
- Supreme Court of India
- Citation
- 1968 INSC 341 · [1969] 3 S.C.R. 108
- Case number
- CIVIL APPEAL No. 2274/1966
- Decided
- 16 December 1968
- Bench
- S.M. SIKRI, R.S. BACHAWAT, K.S. HEGDE (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act
Headnote
LTD. v. S. D. AGARWAL & ANR. December 16, 1968 [S. M. SIKRI, R. S. BACHAWAT AND K. S. IIEGDE, JJ.) Indian Companies Act (1 of 1956), s. 237 (b)(i) and (11)-Circum­ stances suggesting fraud-Existence of-II condition precedent to action under section. · A B On May 20, 1960, Co. Ltd. had sold the preference shares of Albion Pl~s C which it was holding. One S. P. Jain, against whom proeeedmgs in criminal courts were pendin~ for acts of misfeasance and malfeasance in relation to other comparues, was controlling both the New Central Jute Mills Co. and Sahu Jains.
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