FERRUCCIO SIAS Vs. JAI MANGA RAM MULKI

JUDGEMENT

(1.) This suit for damages, declaration and injunction was filed by the plaintiff Mr. Femiccio Sias, staling that he is whole-time Director in the Company, known as SAE (India) Limited. The persons who are sued for damages, declaration and injunction, are defendants No. 1 to 11. All of whom were Directors and/or employees of SAE (India) Limited.

(2.) The plaintiff asserted that the present suit is directed against the conspiracy and tortious action of defendants No. 1 to 7, and against their mala fide, unauthorisedand illegal activities. It was asserted that these actions are detrimental to the interest of SAE (India) Limited and its shareholders; that the said the defendants were usurping the control of the company, and that presently their interest is directly in.

(3.) The important fact which has to be kept in mind, is that it was asserted in the plaint itself, that SAE (India) Limited is an existing Company, incorporated under the Companies Act VII of 1913. ltwasincorporatedasCompanyNo.l7onthel2thofMayl951alWaltiar in the State of Tamil Nadu to execute a contract from the then Madras State Electricity Board for the construction of a 132 KV Machkund Project Transmission Line. This assertion makes it clear that SAE (India) Limited is an Indian Company, incorporated under the laws of India.