NARESH KUMAR JAIN Vs. UNION OF INDIA

JUDGEMENT

(1.) This petition is directed against the respondents to carry out the legal obligation as is cast upon them under Section 188 of the Companies Act, 1956 (hereinafter referred to as 'the Act') by circulating the four Resolutions and include them in the agenda for Annual General Meeting which is scheduled to be held on September 30, 1996, which were forwarded to respondent No.2 on August 12,1996. The said communication reads as under:

(2.) The respondent company rejected the request of the petitioners vide communication dated September 2, 1996. The operative part reads as follows:

(3.) The petitioners felt aggrieved by this communication and accordingly have prayed that the same be quashed and respondent No.2 be directed to include the Resolutions in the Agenda of the Annual General Meeting of respondent No.2 which is scheduled to be held on September 30, 1996. It may be necessary to reproduce the provisions of Section 188 of the Act which makes the following reading: