EXTRUSION PROCESSES PRIVATE LTD Vs. JIVABHAI MARGHABHAI PATEL

JUDGEMENT

(1.) The present appeal comes up from the order of Mr. Justice Kantawala in a winding up petition.

(2.) The respondent in this appeal had filed a winding up petition against the Extrusion Process Private Ltd., the appellant company. It is a private limited company and a substantial portion of the shares is held by the managing director and his relations and friends. In the petition for winding up serious allegations were made to show that it was proper and fit that the company should be wound up. It came first before Mr. Justice K.K. Desai for preliminary orders under rule 96 of the Companies (Court) Rules framed under the Companies Act. Desai J. dismissed the petition in limine. Against his order an appeal, being Appeal No. 32 of 1963, was filed and that appeal was heard by us on November 5, 1963. After hearing counsel on both the sides we made the following order :

(3.) Before the matter came on board, affidavits were filed on behalf of the company to show cause. Affidavits in rejoinder were filed by the petitioning shareholder and also the other shareholders including a director who was according to his allegation excluded from management. Mr. Justice Kantawala felt that we had heard the company and that we had already admitted the petition. He, therefore, directed advertisements. It is against this order that the present appeal is brought.