RAI SAHEB VISHWAMITRA Vs. AMAR NATH MEHROTRA

JUDGEMENT

(1.) This is a company petition filed under sections 397 and 398 of the Companies Act, 1956, in the matter of Jhausi Electric Supply Co. Ltd. The prayer in the petition is that an order be passed staying the so-called meeting to be held on December 30, 1982.

(2.) Jhansi Electric Supply Co. Ltd. is a public limited company which was incorporated on August 19, 1937. The business of the company was the supply of electricity to the cities of Jhansi and Gorakhpur in the State of U. P. Both the power houses of the company were taken over by the Government. The position, consequently, is that now the company has ceased to carry on its business of supplying electricity.

(3.) It has been stated in the petition that compensation in respect of the taking-over of the power house in Jhansi City has already been paid while proceedings are going on before the arbitrators for assessment of the compensation for taking over of the power house in Gorakhpur City.