RAGHUBAR DAYAL Vs. SARRAFA CHAMBER

JUDGEMENT

(1.) THIS is a petition by three shareholders of the Sarrafa Chamber, Jhansi (hereinafter described as the Company) for its winding up on the ground that it is just and equitable to do so.

(2.) THIS Company was formed in 1946 with a nominal capital of rupees one lakh divided in 200 shares of rupees five hundred each. The object of the Company was to carry on trade in gold and silver. The Company was never registered.

(3.) THIS petition is resisted mainly by opposite parties Nos. 2 and 3. It is not necessary to mention the defence raised by them on merits because a preliminary question has arisen for deci- sion whether the Company consists of more than twenty members and whether an application for winding up of such a Company can be entertained. It may, however, be remarked that although in the counter-affidavit filed by the opposite parties it was expressly stated that the. Company consisted of forty-eight partners no plea was taken to the effect that the application was on that ground not maintainable. The learned counsel for the petitioners contended that the question of maintainability of the petition could not be entertained by Court. This contention is, however, without force. A question of law can be raised at any stage. In order to enable the learned counsel for the petitioners to prepare himself to meet this new point an adjournment was given to him as desired by him.