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The Drivers Conductors Bus Service vs The Regional Transport Authority on 1 December, 2003 cites

World Wide Agencies Pvt. Ltd. And Anr vs Mrs. Margarat T. Desor And Ors on 19 December, 1989

Since the permit stands in the name of the petitioner company and not in the individual names of either the Managing Director or any one of the Directors, the right of the third respondent should be considered with reference to her claim on the ground that she is the daughter of the then Managing Director who held nearly 50% of the total shares of the company. Right of a legal heir even to maintain an application under Sections 397 and 398 of the Companies Act, 1956 came up for consideration before the Apex Court in M/s World Wide Agencies Private Limited case (supra). That was a case relating to the transmission of shares of the company more particularly, with regard to the illegal operation of the bank accounts etc. A petition was filed under Sections 397 and 398 of the Companies Act and in the alternative for winding up of the company by the respondents therein. The issue as to the maintainability of the petition by the persons who are not members of the company, as their names were not recorded in the register of members, ultimately came up for consideration before the Apex Court in the said judgment. The Apex Court posed two questions of law for consideration. The first being whether the legal heirs of a deceased shareholder can be treated as members of the company for the purpose of maintaining a petition under Sections 397 and 398 of the Act, and the second being, whether a composite petition under Sections 397, 398 and 433(f) of the Act is maintainable. We are not concerned with the second question posed by the Apex Court, as the same is not applicable to the facts of this case. After elaborately considering the first question, the Apex Court ultimately held as follows:-
Supreme Court of India Cites 23 - Cited by 58 - S Mukharji - Full Document
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