Baryan Rajinder Singh v Polypack Limited (COMPANY CAUSE No. 013 OF 2017)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
A consent compromise sanctioned by court operates as a judgment and is binding on the parties. Subsequently instructed counsel cannot unilaterally depart from concessions and agreements made by previous counsel. Where parties agreed to an external audit to resolve a company dispute, the court will enforce that agreement and direct appointment of an auditor.
Outcome
Court enforced the consent compromise and directed parties to appoint an external auditor, failing which JSR Certified Accountants shall conduct the audit
Facts
On 5 April 2017, the applicant filed an application to restrain the respondent company from holding a meeting scheduled for 6 April 2017. An interim injunction was granted. The respondent applied to set it aside. During the hearing, counsel for both parties agreed to settle the matter by consent and withdraw all applications, vacating the interim order. The parties compromised that an audit of the company be conducted. The applicant proposed Price Water House Coopers, but the respondent disagreed. The matter was adjourned to allow parties to agree on an auditor. At the next hearing, new counsel Birungi appeared for the respondent and challenged the entire process, arguing that auditors are appointed by members in AGM and that the company already had internal audits. The applicant contended that the company had not held an AGM for ten years and that an independent audit was needed.
Issues
- Whether the court should disregard steps taken and concessions given by previous counsel for the respondent.
- Whether a consent compromise entered before court is binding on subsequently instructed counsel.
- Whether the court can direct an external audit of a company following a consent agreement.
Orders
- The parties are directed to appoint an agreeable reputable firm to conduct an audit of the company's financial position from 2007 to the date of the order.
- In the event that the parties fail to agree, JSR Certified Accountants proposed by the applicant shall conduct the audit.
Rules and key headnotes
Legislation cited (1)
Cases cited (1)
- Saroj Gandesha v Transroad (Supreme Court Civil Appeal No. 13 of 2009)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.