N.K. AGARWAL Vs. HANUMAN MILLS PRIVATE LTD.

JUDGEMENT

(1.) ON 11th May, 1972, Sri N.K. Agarwal, the petitioner, filed an application under Section 155 of the Companies Act, 1956, for the rectification of the register of members of Messrs. Hanuman Mills Private Ltd., Fatehpur, by entering the name of the petitioner as a shareholder in respect of 342 shares mentioned in paragraph 2 of the petition. Soon after, on 19th May, 1972, this court passed an order of winding up of Messrs. Hanuman Mills Private Ltd., Fatehpur. Thereafter, on 15th July, 1972, the applicant moved another application praying that after the winding -up order this court has jurisdiction under Section 467 of the Companies Act to settle the list of contributories and in that regard to direct the rectification of the register of members of the company under winding up. He prayed that his earlier application moved on 11th May, 1972, be treated as one under Section 467 of the Companies Act.

(2.) THE petitioner's case is that he held a decree in Suit No. 4 of 1959 dated 14th December, 1959, for Rs. 10,901.35 against one, Damodar Das Agarwal. He was the younger brother of Sri Shyam Sundar Agarwal, the managing director of the company. The decree was put into execution (Case No. 12 of 1960). Three hundred and forty -two shares held by the judgment -debtor, namely, Damodar Das Agarwal, were put up for auction on 18th July, 1963. They were purchased by the petitioner -decree -holder with the permission of the court for Rs. 4,000 in the partial satisfaction of the decree. The sale was confirmed by the execution court on 30th January, 1965, and became final.

(3.) IN the application the petitioner states that he became the owner of the following shares :