Supreme Court Dismisses Appeals by Both Company and Board, Upholding High Court's Direction for Fresh Consideration of All Relevant Acts Under Section 326 of Companies Act, 1956. The Court Ruled that the Power is Quasi-Judicial and Subject to Judicial Review if Irrelevant or Incomplete Material is Relied Upon, and Past and Present Conduct Must Both Be Weighed in Determining Fitness of Managing Agent.
2 Sep 1969The Rampur Distillery Company Ltd. had appointed Govan Brothers as its managing agent in 1943, with tenures extended from time to time under the Compa...
