REGENT COMPUTRONICS PVT. LTD.

K.P.JAIN Appellant

V/S

S.K.GUPTA Respondents

Referred Judgements :-

GOLCHA INVESTMENT LTIL. V. SLIUNTI CHANDRA [REFERRED]
KAMLA PAT MOTI LAL V. UNION INDIAN SUGAR MILLS CO. LTD. [REFERRED]
PROMILA DEVI V. PEOPLES BANK OF NORTHERN INDIA LTD. [REFERRED]
TRAVANCORE QUILON BANK LTD. [REFERRED]
HOWRAH TRADING CO LIMITED VS. COMMISSIONER OF INCOME TAX CENTRAL CALCUTTA [REFERRED]
SHANKARLAL AGGARWALA VS. SHANKARLAL PODDARRESPON DENTS [REFERRED]
VASUDEV RAMCHANDRA SHELAT VS. PRANLAL JAYANAND THAKAR [REFERRED PEL-KINGS (1890) 24 Q.B.D. 613.]
GOKUL CHAND D MORARKA VS. COMPANY LAW BOARD [REFERRED]
MAZDA THEATERS PRIVATE LIMITED VS. NEW BANK OF INDIA LTD [REFERRED]
DR VED MITRA VS. GLOBE MOTORS LIMITED [REFERRED]
MANSUKHLAL VS. M V SHAH HATHISING MFG COMPANY LIMITED [REFERRED]
SEKSARIA COTTON MILLS LTD VS. A E NAIK [REFERRED]

JUDGEMENT

(1.) These two conjoint appeals from the order of the learned company judge (D. K. Kapur J.) both dated April 26, 1976, mainly turn upon the meaning and interpretation of two sections of the Companies Act, 1956 -sections 391 and 392. The facts

(2.) First the facts. Delhi Flour Mills Company Limited (DPM) was the holding company, It had a subsidiary. The subsidiary company is Indian Hardware Industries Limited (IHI). Now for some years past it has stopped working.

(3.) IHI was incorporated in 1951 with a share capital of Rs. 8 lakhs. It floated 80,000 equity shares of Rs. 10 each. Since its formation 44,000 shares were held by the holding company, namely, DFM. They were the largest single share-holder having in their hands 55 per cent of the shares of IHI. The appellant K. P. Jain and his family hold 31,000 shares. That comes to 38.5 per cent of the entire holdings. 5000 shares are held by an outsider.

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K P JAIN Vs. S K GUPTA

Referred Judgements :-

JUDGEMENT

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