Greg Hutchings faces stern resistance from institutional investors this week over his ambition to return to Lupus Capital, the manufacturing investment company from which he was ousted as executive chairman in July.

Mr Hutchings, who made his name at the helm of Tomkins, the engineering comglomerate, was replaced at Lupus after the company breached a banking covenant. Since then he has increased his personal shareholding to nearly 11 per cent and requisitioned an extraordinary general meeting in an attempt to unseat four of the current directors and reinstate himself as chairman.