By an originating motion supported by an affidavit which ran into 26 paragraphs, the two applicants, namely Michael Kwaku Abrokwa and James Adona Mensah, in their capacities as shareholders in Ashanti Furniture Co. Ltd. pursuant to section 218 of the Companies Code, 1963 (Act 179) sought the following directions:
“(i) All proper accounts and inquiries be taken or made regarding the conduct of the affairs of the company by Francis Kwaku Pinamang, managing director of the company and that he be made to pay to the company all moneys found due from him to the company on such accounts.
(ii) That the current chairman of the company he removed from the board.
(iii) That Pinamang be prohibited from conducting the affairs of the company otherwise than in accordance with the valid decisions of the company and that he further be prohibited from regarding the company as if it were his personal property. And for such further or other orders this honourable court will seem fit."
After a protracted hearing, the learned trial judge made the following orders:
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“(a) That the company's affairs be investigated from 1979 by a firm of chartered accountants and auditors to the date of commencement of the action and that the investigation should in no event take more than three months.
(b) That the acting managing director should continue in office subject to the supervision of the court and until the accountants have reported.
(c) That Abrokwa should pay for the services rendered by Ashanti Furniture Co. Ltd. inclusive of materials and labour at the prevailing rates for the house built in defiance of the board's decision between 1980 and 1982.
(d) That Pinamang accounts for all moneys collected from the cashier for which he had produced no proper or genuine receipts including those that this court had found to be improperly taken by him; further he pays all moneys found due from him to the company.
(e) That the shares of the company be valued at current prices by a valuer agreed upon by the parties.
(f) That Abrokwa and Mensah are given the first opportunity of buying out Pinamang within three months of such valuation. If and only if Abrokwa and Mensah are unwilling or unable to do so then the respondent Pinamang should buy them out."
Pinamang was aggrieved by the orders made against him and appealed to this court on a number of grounds of appeal. Though adverse orders were made against Abrokwa he did not appeal against those orders.
The application before
