VARTHAKAVARDHINI BANK LTD Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) In the list of debtors filed by the liquidator on June 30, 1954, the two debts of which repayment is claimed from the aforesaid R. Chikkaveeranna are items 45 and 46, viz. :

(2.) Subbamma has not led any evidence. The liquidator, Mr. S. Chinnaswami Setty, has given evidence speaking to the entries in the books of account and other books of the company which are relevant to his claim.

(3.) Chikkaveeranna was first elected a director of the company for the year 1937 at a general meeting of the shareholders held on December 31, 1936, and continued to be a director till the winding up petition was filed in the District Court of Mysore on November 8, 1944. This fact is proved by the liquidator by producing the proceedings books of the company in which relevant resolutions electing him as a director are recorded. Exhibit P-4(a) is the record of proceedings of the general body meeting held on December 31, 1936, at pages 126, 127 and 128 of the proceedings book, exhibit P-4 at which Chikkaveeranna was elected a director for the year 1937; exhibit P-4(a) (1) is the relevant resolution separately marked. Exhibit P-4(b) (1) which appears in the same book is the resolution which re-elected all the directors for the year 1938 adopted in the general body meeting held on December 31, 1937. Exhibit P-4(c) (1) is a resolution relating to the election of directors including Chikkaveeranna for the year 1939, adopted at the meeting held on December 29, 1938. Exhibit P-4(d) (1), exhibit P-4(e) (1) and exhibit P-4(f) (1) are similar resolutions relating to the years 1940, 1941 and 1942. Exhibit P-5 is another book of proceedings of general body meetings in continuation of exhibit P-4. Exhibit P-5(a) (1) and exhibit P-5(b) (1) are similar resolutions relating to the years 1943 and 1944.