ORIENTAL METAL PRESSING WORKS (P.)LTD. vs BHASKAR KASHINATH THAKOOR &ANOTHER

The Supreme Court ruled that Section 312 of the Companies Act, 1956, which states that any assignment of office by a director is void, does not include appointments made by a director to his successor. The Court clarified that the term 'assignment' does not equate to 'appointment', thus allowing a managing director to appoint a successor via will as per Section 255 of the Act. The Court held that the appointment of the appellant as managing director was valid and upheld the appeal against the Bombay High Court's decision.