RUBY MILLS LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) This petition under art, 226 of the Constitution raises a short but interresting question relating to interpretation of ss. 309(1) and 310 of the Companies Act, 1956, viz :

(2.) Facts, abbreviated to the relevant minimum, are as below.

(3.) The second petitioner, J. D. Masani, is a qualified advocate and solicitor and has been practising as such since about 1965. He joined M/s. N. C. Dalal & Co., a firm of advocates and solicitors (hereinafter "the said firm"), as a partner and later from February, 1977, became its sole proprietor. This firm has been rendering professional service to the first petitioner, the Ruby Mills Ltd. (hereinafter "the company") for more than the last twenty-five years.