ABc Pvt Ltd has a Bank Account with private foreign Bank. X and Y the Directors of the Company were operting the said Account, There were no transaction in the account for a period of nine months.
The cheques issued by the company were returned unpaid by the Bank with the remark " refer to drawer" despite sufficient fund. when contacted the bank replied that the Directors are removed by the sharholders and the account is frozen on the instruction of the shareholders of the Company.
When the directors asked the document in support of the claim of the Bank the bank failed to provide any satisfactory legal documents like court order, Form 32 etc
As per the records X & Y are the directors of the company.
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