EXHIBITORS SYNDICATE LTD. Vs. DALHOUSIE PROPERTIES LTD.

JUDGEMENT

(1.) Four winding up applications were heard by me for three days, on each day, for sometime. I will deal with the facts of C.P. No. 295 of 2006, one of the four winding up applications where the petitioning creditor is Exhibitors' Syndicate Ltd., and the company of which winding up is sought, Dalhousie Properties Ltd. The basic facts in all the four winding up applications are identical. Therefore, the judgment in this application will also be the judgment in the other three, as well.

(2.) The facts are most unusual. I wonder if such unusual facts were ever the subject-matter of another winding up application, in the history of this Court. At one point of time there was a famous cinema house by the name of "Uttara Cinema", in north Calcutta. This Uttara Cinema was run from properties which were numbered as Premises No. 138/2, Bidhan Sarani and 3, Gurucharan Lane, Calcutta. It is quite sometime now that this cinema house has stopped showing cinema.

(3.) On July 18, 1957, these properties were owned by Debi Prasanna Ghosh and Smt. Charusila Dassi. Both of them are long dead. By a registered deed of lease they demised these properties from July 18, 1957, till July 17, 1997, to one organisation called Cultural Enterprise Corporation. The lessee had a right to sub-lease. By a sub-lease made on October 5, 1963, the lessee demised the properties to Exhibitors' Syndicate Ltd., the petitioning creditor, for the whole of the unexpired term of the lease. Therefore, there can be no doubt that the lease and the sub-lease determined by efflux of time on July 17, 1997. The petitioning creditor did not vacate the properties. The heirs of the deceased owners took no steps for their eviction.