CLB have no jurisdiction over asset acquired & sold by director on companies behalf but in his own name

HIGH COURT OF MADRAS T. Vinayaka Perumal v. T. Balan Co. Appeal No. 24 of 2009 Date of Pronouncement – April 29, 2011 JUDGMENT Vinod K. Sharma, J.-The appellant is the owner in possession of lands measuring 3 acres and 54 cents in S. No. 428/4A1A and 47 cents in S. No. 428/8A, totalling 4.01 acres at Gummidipoondi, as detailed in the schedule, attached to the grounds of appeal. The appellant purchased the property from Thiru G. George, sixth respondent, vide sale deed dated January 5, 2006, registered as Document No. 48 of 2006 on the file of SRO, Gummidipoondi. 2. The p...