Ramachandra Ayyar, J. allowed the applications, and passed companyditional orders for rectification of the registers and his decision was affirmed by the appellate Court.
On January 18, 1957, M. A. Jabbar, M. A. Khadir and other shareholders filed Application No.
Appeals from the judgment and decree dated December 21, 1961 of the Madras High Court in O. S. Appeals Nos.
The appellant cannot number companyplain that the pleadings were vague.
402 and 237 of the Indian Companies Act, 1956, and obtained an interim order directing stay of companylection of monies pursuant to the numberice dated January 3.
The Company number appeals to this Court by on a certificate granted by the High Court.
By order of the Board Signed A. R. Hassain Khan Managing Director.
The call money was number paid into Court, and on February 8, 1957, the Court vacated the stay order.
119 of 1957 in the Madras High Court praying for reliefs under ss.
We may number companyveniently refer to certain events which happened after January 2, 1957 when the directors resolved to make the call and February 11, 1957 when the shares were forfeited.
Articles 29 and 30 of the Articles of Association of the Company read The numberice shall name a future day, number being less than seven days from the service of the numberice, on or before which such all or other money and all interest and expenses that may have accrued by reason of such number payment are to be paid and the place where payment is to be made, the place so named being either registered office of the Company are usually made payable and shall state that in the event of number payment at or before the time and at the place appointed the share in respect of which such payment is due, will be liable to be forfeited.
203 of 1965, holds 163 shares in the Company.
As the call monies remained unpaid, the Company issued the 68 5 following numberice dated January 20, 1957 to the respondents under Art.
On January 30, 1957, the Court passed a modified interim order restraining the forfeiture of the shares, and directed M. A. Jabbar to pay the call money into Court within one week.
Take further numberice that in the event of number payment as mentioned above, the shares registered in your name will be liable to be, once for all, forfeited without further numberice and without prejudice to any legal action that may be taken against you for recovering the balance amount due from you treating the same as a debt due to and recoverable as such by the Company under Article 14.
V. Viswanatha Sastri, P. Ram Reddy and A. V. V. Nair, for respondent No.
CIVIL APPELLATE JURISDICTION Civil Appeal Nos.
On November 8, 1957, the respondents filed two separate applications under s. 155 of the Indian Companies Act, 1956 in the High Court of Madras praying that the forfeitures be set aside and the necessary rectifications be made in the share register of the Company.
202 and 203 of 1965.
The Courts below held that in the absence of Particulars of interest and expenses, the numberice dated January 20, 1957 was defective and the forfeiture is invalid.
If the requisition , of any such numberice as aforesaid be number companyplied with, any share in respect of which such numberice has been given may, at any time thereafter before payment of all money due thereon with interest and expenses, be forfeited by a resolution of the Directors to that effect.
The call numberices were duly served on the companytesting respondents.
30 forfeiting the shares held by them.
In the light of Art.
202 of 1965, holds 13 shares and his brother, M. A. Jabbar, the companytesting respondent in Civil Appeal No.
M. A. Khader, the companytesting respondent in Civil Appeal No.
K. Venugopal and R. Gopalakrishnan, for the appellant.
Judgment of the Court was delivered by Bachawat, J. The appellant is a limited Company carrying on transport business in South Arcot District.
29 Sir, As the call amount of the balance of Rs.
On January 2, 1957, the board of directors of the Company passed a resolution calling the unpaid amount of Rs.
25/ for every share held by you remains unpaid in respect of the numberice dated 3rd January 1957 issued in pursuance of the resolution of the Board, I hereby issue this numberice calling upon you to pay the called amount at the registered office of the Company on or before Wednesday the 30th January 1957, together with interest at six per cent and any expenses that might have accrued by reason of such number payment.
25/ on each share.
On January 3, 1957, a call numberice was issued to the shareholders requesting payment on or before January 19, 1957.
55 and 56 of 1959.
In spite of this numberice, the respondents did number pay the call monies, and on February 11, 1957, the board of directors passed a resolution under Art.
