ASHIT ROY Vs. PEERLESS TEA AND INDUSTRIES LTD

JUDGEMENT

(1.) These three appeals are interconnected, therefore we heard and disposed of them by this common order. The common basic facts touching the three appeals are inter alia as follows : These three appeals which have been heard analogously centre round the resultant effect of a winding up petition being C. P. No. 321 of 1987.

(2.) One Ashit Roy, residing at Millanpally, P. O. Siliguri, District Darjeeling filed an application under Sections 433, 434 and 439 of the Companies Act, 1956, being Company Petition No. 321 of 1987.

(3.) In the said petition it was inter alia stated that M/s. Peerless Tea and Industries Ltd. is a public company limited by shares and was incorporated under the provision of the Companies Act, 1956, in or about 1967. The registered office of the company at 3/1, Mango Lane, Calcutta, and the nominal shareholders' capital is Rs. 7 lakhs and the paid up capital is Rs. 5,35,670. It was averred in the said Company Petition No. 321 of 1987 that between November 30, 1984, and November 30, 1985, at the request of the company, the said Shri Ashit Roy from time to time lent and advanced various sums of money aggregating to a sum of Rs. 66,105 repayable on demand with interest thereon at 18 per cent. per annum.