MODERN FURNISHERS (INTERIOR DESIGNERS) (P.) LTD. Vs. STATE

JUDGEMENT

(1.) THE material facts, not in dispute, resulting in the present proceedings under Sections 397 and 398 of the Companies Act, 1956, are as follows:

(2.) ONE Dhirendra Nath Mallick had been carrying on business since 1920 under the name and style of ' Modern Furnishers' as the sole proprietor thereof. R. N. Banerji, respondent No. 2 herein, was an employee of Dhirendra in the said business.

(3.) ON February 8, 1963, Dhirendra and respondent No. 2 constituted a partnership under the existing name ' Modern Furnishers'. The said partnership was registered. Respondent No. 2 was allotted 2 annas share in the said partnership while Dhirendra retained the balance 14 annas share. The tenancy in the said premises at Park Street, Calcutta, was transferred in favour of the partnership.