BENGAL LUXMI COTTON MILLS LTD Vs. STATE
LAWS(CAL)-1964-9-3
HIGH COURT OF CALCUTTA
Decided on September 22,1964

BENGAL LUXMI COTTON MILLS LTD. Appellant
VERSUS
STATE Respondents


Referred Judgements :-

YORK AND NORTH MIDLAND RAILWAY CO. V. HUDSON [REFERRED TO]
TRADE AUXILIARY CO. V. VICKERS [REFERRED TO]
STEAM STOKER CO. [REFERRED TO]
WEAR EGNINE WORKS CO. [REFERRED TO]
GARDEN GULLY UNITED QUARTZ MINING CO. V. HUGH MCLISTER [REFERRED TO]
LANGHAM SKATING RINK CO. [REFERRED TO]
ALMA SPINNING CO. [REFERRED TO]
BRITISH EMPIRE MATCH CO. LTD. [REFERRED TO]
SLY SPINK AND CO. [REFERRED TO]
SMITH V. ANDERSON [REFERRED TO]
LUMLEY V. RAVENSCROFT [REFERRED TO]
LENNARD'S CARRYING CO. LTD. V. ASIATIC PETROLEUM CO. LTD. [REFERRED TO]
BULLI COAL MINING CO. V. PATRICK HILL OSBORNE [REFERRED TO]
FAURE ELECTRIC ACCUMULATOR CO. [REFERRED TO]
B.P.KHAITAN V. NEW CENTRAL JUTE MILLS CO. LTD. [REFERRED TO]
BOLTON (H.L.) (ENGINERRING) CO. LTD. V. GRAHAM (T.J.) AND SONS LTD. [REFERRED TO]
YENIDJE TOBACCO CO. LTD. [REFERRED TO]
RAGHUNANDAN NEOTIA V. SWADESHI CLOTH DEALERS LTD. [REFERRED TO]
LOCH V. BLACKWOOD [REFERRED TO]
LOTHIAN JUTE MILLS CO. LTD. [REFERRED TO]
MALHATI TEA SYNDICATE LTD. [REFERRED TO]
GRUNDT V. GREAT BOULDER PROPRIETARY GOLD MINES LTD. [REFERRED TO]
CINE INDUSTRIES AND RECORDING CO. LTD. [REFERRED TO]
CITY EQUITABLE FIRE NSURANCE CO. LTD. [REFERRED TO]
CLIVE MILLS CO. LTD. [REFERRED TO]
CUTHBERT COOPER AND SONS LTD. [REFERRED TO]
RAM KISSENDAS DHANUKA V. S.C.LAW [REFERRED TO]
K S RASHID AND SON VS. INCOME TAX INVESTIGATION COMMISSION [REFERRED TO]
RAJAHMUNDRY ELECTRIC SUPPLY CORPORATION LIMITED VS. A NAGESNWARA RAO [REFERRED TO]
INDIAN SPINNING MILLS LTD VS. HIS EXCELLENCY LT GENERAL MADAN SHAMSHER JANG BAHADUR RANA [REFERRED TO]
RADHA KISSEN MORE VS. E RAJARAM RAO [REFERRED TO]
ABANINDRA KUMAR MAITY VS. A K MAJUMDAR [REFERRED TO]
ALBERT DAIVD LTD VS. STATE [REFERRED TO]
MARWARI MILLS STORES CO VS. A K BANDOPADHYAY [REFERRED TO]
VEERAMACHINENI SEETHIAH VS. BODE VENKARASUBBIAH [REFERRED TO]
KALINGA TUBES LTD VS. SHANTI PRASAD JAIN [REFERRED TO]
VANGUARD FIRE AND GENERAL INSURANCE CO VS. FRASER AND ROSS CHARTERED ACCOUNTANTS MADRAS [REFERRED TO]
BABU RAMESHWAR PRASAD SINGH VS. AYYUB [REFERRED TO]



Cited Judgements :-

SANGRAMSINH P GAEKWAD VS. SHANTADEVI P GEAKWAD [LAWS(SC)-2005-1-71] [REFERRED TO]
TRACKPARTS OF INDIA LIMITED AND RADKHIKA BHARGAVA VS. K N BHARGAVA [LAWS(ALL)-2000-8-107] [REFERRED TO]
MOHTA BROS P LTD VS. CALCUTTA LANDING AND SHIPPING CO LTD [LAWS(CAL)-1969-3-3] [REFERRED TO]
JALPAIGURI CINEMA CO LTD VS. PROMOTHA NATH MUKHERJEE [LAWS(CAL)-1974-5-2] [REFERRED TO]
MOHAN LAL MITTAL VS. UNIVERSAL WIRES LTD [LAWS(CAL)-1979-10-3] [REFERRED TO]
COMBUST TECHNIC P LTD VS. STATE [LAWS(CAL)-1984-6-25] [REFERRED TO]
RAGHUNATH SWARUP MATHUR AND ORS. VS. HAR SWARUP MATHUR AND ORS. [LAWS(ALL)-1969-11-18] [REFERRED TO]


JUDGEMENT

B.C.Mitra, J. - (1.)This is an application for various ad interim reliefs in a company petition under Sections 397, 398, 402 and 403 of the Companies Act, 1956. The material facts relating to this application are set out hereunder.
(2.)In 1906, a company known as Bengal Luxmi Cotton Mills Ltd. (hereinafter referred to as the company) was incorporated, with the object of purchasing a cotton spinning and weaving mill in Bengal or elsewhere and to buy cotton, silk, jute, etc., for carrying on the business of spinning yarn. In 1922, the applicant No. I came in contact with one Sachidananda Bhattacharjee. These two persons started various business and industrial concerns. In 1927, the company was in financial distress and became indebted to the Imperial Bank of India in the sum of Rs. 21,00,000. It was at that time that the applicant No. 1 is alleged to have come to the rescue of the company by taking over the managing agency. In 1930, the applicant No. 1 and Bhattacharjee by their combined efforts started an insurance business and promoted the Metropolitan Insurance Co. Ltd. They also promoted the Calcutta Friends Society (Private) Ltd., Bengal Luxmi Soap Works (Private) Ltd. and Metropolitan Printing and Publishing House (Private) Ltd. The shares in all these companies were held by the applicant No. 1 and Bhattacharjee in equal proportion. Bhattacharjee died in 1945, leaving him surviving his widow and four sons of whom Debendranath Bhattacharjee, the respondent No. 2, was the eldest.
(3.)The managing agency of the company was originally taken jointly by the applicant No. 1 and Sachidananda Bhattacharjee. Thereafter, they promoted a private company known as Bengal Textile Agency Ltd., which took over the managing agency of the company and continued to act as such managing agent till 1957, when the managing agency of the company came to an end by reason of the requirement of the Companies Act, 1956.


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