WORLDWIDE AGENCIES PRIVATE LIMITED Vs. MARGARET T DESOR

JUDGEMENT

(1.) Two interesting points of law arise in this appeal. (i) whether the legal heirs of a deceased share-holder can be regarded as members of the company for the purpose of maintaining a petition under sections 397 and 398 of the Companies Act. 1956. and (ii) whether a composite petition under sections 397,398 and 433(f) of the Companies Act, 1956 is maintainable.

(2.) The admitted tacts are briefly set out. As per the certified copy of the annual return made out upto 15th February, 1984, the share-holders of M/s. Worldwide Agencies Pvt. Ltd. were as follows :- Mr. S.K. Desor 600 shares Mrs. Amrit Kaur Singh 555 shares Mr. Yash Pal Malhotra 250 shares Mrs. Amrit Gupta 200 shares Mrs. Savitri Devi Kohli 5 shares Mr. A.S. Saluja 5 shares Mr. Balwant Singh 405 shares 2010 shares

(3.) Mr. S. K. Desor was the largest single share-holder and the Managing Director of the said company. He died on 5th March, 1985. The office of the M/s. Worldwide Agencies Pvt. Ltd. was closed on 5th, 6th and 7th March, 1985.