STAR TILE WORKS Vs. N GOVINDAN

JUDGEMENT

(1.) Defendants 1, 2, 4, 6 and 7 are the appellants before us. The dispute relates to the proceedings of the annual general meeting of the first defendant company held on 22-7-1957.

(2.) The plaintiff's case is briefly as follows: Plaintiffs are the shareholders of the first defendant company. The share capital of the first defendant company was Rs. 1,20,000 divided into 8000 shares of Rs. 15 each. The shares were all fully paid up. The main business of the company was manufacture and sale of different kinds of tiles.

(3.) One Naracasseri Krishnan owned 4536 shares in the first defendant company. The said Krishnan died on 2-1-1951 leaving a will giving his properties including the shares in. the company to his two daughters who were then minors. The 2nd defendant and, one Sumithra Ammal, wife of N. S. Krishnan had been appointed executors under the will by the deceased Krishnan.