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TMI Blog1981 (8) TMI 190X X X X Extracts X X X X X X X X Extracts X X X X ..... on 433(1)( f ) of the Companies Act, 1956, is made by one of the shareholders, an ex-director of the company, praying for an order of winding-up on just and equitable grounds. Respondent No. 1-company was formed under the provisions of the Companies Act, 1956 (hereinafter referred to as "the Act"). The nominal capital of the company at the time of incorporation was Rs. 2,00,000 divided into 2,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the provisions to the contrary contained in the articles of association of the company. It was solely on the ground that she absented herself from three consecutive board meetings, with reference to which the company appears to have filed a return to the Registrar as required, stating that she ceased to be a director of the company. Petitioner has claimed that the same is illegal as she had n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t see how a shareholder can move for winding up of the company on that ground. No doubt the company has stopped its business somewhere in the year 1980. But the said letter at annex. B dated November 8, 1980, clearly indicates that some of the shareholders, at least, are interested in the working of the company once again. The learned counsel for the petitioner has relied upon a decision of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner herein, because the facts are totally different. Here the director has been expelled and has ceased to be a director not on account of the abuse of power used by the board of directors of the 1st respondent-company but by operation of law as provided in the Companies Act. There is no case made out for entertaining this petition under section 433(1)( f ) of the Companies Act. Therefore, it ..... X X X X Extracts X X X X X X X X Extracts X X X X
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