BASUDEB KATARUKA Vs. DHANBAD AUTOMOBILES PRIVATELTD

JUDGEMENT

(1.) This is an application under Section 155 of the Companies Act, 1956, filed by the petitioner, Basudeb Kataruka, against Messrs, Dhanbad Automobiles Private Ltd. (hereinafter referred to as "the company") and five other persons, including the managing director and the other director, for rectification of the share register of the company.

(2.) The company is a private limited company, having its registered office at Dhanbad. The petitioner claims to be a shareholder as also a director of the company, the other two directors being opposite parties Nos. 2 and 3. The authorised share capital of the company was as follows :

(3.) 2,000 equity shares (Series A) of Rs. 75 each 1,50,000 3. The company had issued only 150 cumulative preference shares, 1,000, ordinary shares and 480 equity shares fully paid up and the rest of the shares were unissued. Out of these unissued shares, 450 equity shares have been issued by the company to opposite parties Nos. 4, 5 and 6 by its resolution dated the 3rd January, 1974, which action is being challenged by the petitioner, and he has come to this court for the rectification of the share register.