BANSIDHAR DURGADATT Vs. TATA POWER COMPANY LIMITED

JUDGEMENT

(1.) The plaintiff company filed this suit alleging that one Bansidhar Durgadutt (hereinafter called the first defendant) had by two several applications, dated respectively October 3, 1919, a October, 11, 1919, applied for 380 ordinary and 120 preference shares in the plaintiff company subject to the articles and memorandum of association of the company, remitting with the said applications Rs. 13,000 and Rs. 37,000 respectively as the amounts of deposit in respect of the shares so applied for.

(2.) On December 1, 191P, the Board of Directors allotted to the first defendant 190 ordinary and 120 preference shares, and notices of such allotment were sent to the first defendant. The first defendant paid the allotment moneys. A first call of Rs. 100 on each of the ordinary and preference shares was made payable on September 1, 1921, by a resolution of the Board of Directors dated July 20, 1921, and a notice was sent to the first defendant on August 12, 1921. The first defendant failed to pay the amount due on the first call, and notices were sent to him by the company and their solicitors respectively demanding the said amount with interest at nine per cent.

(3.) After the institution of the suit the company were informed that Bansidhar Durgadutt, the registered holder of the shares, was not an individual but a firm, and the plaint was consequently amended by adding the firm as second defendant.