LAWS(BOM)-1988-8-35

MOHINIDEVI CHORARIA Vs. APSARA CINEMA PRIVATE LIMITED

Decided On August 09, 1988
MOHINIDEVI CHORARIA Appellant
V/S
APSARA CINEMA PRIVATE LIMITED Respondents

JUDGEMENT

(1.) The applicants are the shareholders of Apsara Cinema Pvt. Ltd., the respondent No. 1 hereinafter to as the Company. For the sake of convenience, the applicants are referred to as petitioners. The petitioner No. 2 Balchand Choraria is the Constituted Attorney of the petitioner No. 1. The respondents Nos. 2 to 16 are also shareholders. The two sets of shareholders represent rival groups. The Company Application No. 136 of 1988 and Company Application No. 137 of 1988 are also addressed to VIP Enterprises and REK Exhibitors respectively because certain reliefs affecting their contracts of exhibition of movie films in Apsara Cinema are sought. In these Judges Summonses taken out under section 402 of the Companies Act, hereinafter referred to as "the Act", the applicants seek an order that the agreements dated 20-3-1987 and 12-2-1987 with VIP Enterprises and REK Exhibitors be set aside and Administrator of the Company be appointed.

(2.) The facts, out of which these applications arise, are briefly these :---

(3.) The affairs of the Company continued to be managed by the four Directors, viz. petitioner No. 1 and respondent No. 4, respondent No. 5 and respondent No. 16 for over 2 1/2 years, that is to say, till about December, 1986. During this time, the Bank account were operated under the signatures of the petitioner No. 2 and respondent No. 5 in accordance with the consent order.