KO KU LA LTD Vs. STATE

JUDGEMENT

(1.) This is an application by the judgment-creditor for the winding up of the company called Ko-Ku-La Ltd. The grounds on which the petition is being prosecuted by the judgment-creditor are first, that the company is unable to pay its debts and secondly, that the statutory notice of demand was given to the company as required by S. 163, Companies Act. The statutory demand is pleaded in para. 9 of the petition and a copy of the demand is annexed to the petition as Ex. B and it is pleaded that it was sent by registered post.

(2.) The facts briefly are as follows: The petitioner instituted a title suit in 1947 in the Subordinate Judge's Court at Asansol claiming possession of certain lands which the company had contracted to purchase from her and Rs. 10,000/- for breach of contract, Rs. 4,000/- for price of cattle and Rs. 1,000/- for deterioration of the cattle and Rs. 2,000/- as the value of the produce of the arable lands and Rs. 1,000/- as damages for demolition of certain buildings. There was a written statement by the defendant company, but at the time of the hearing it did not appear and on 26-5-1949, a decree was passed in that suit in favour of the petitioner against the company for the sum of Rs. 18,000/- and for Rs. 3419/3/3 for costs, aggregating to Rs. 21,419/3/3.

(3.) This decree of 26-5-1949 still remains unsatisfied. Certain steps were taken in execution of this decree. In execution the petitioner caused certain lands belonging to the company to be attached. The lands were attached and sold by the executing Court by public auction and the petitioner was the highest bidder purchasing the same for Rs. 9,000/-. The executing Court allowed the purchase money to be set off in part satisfaction of that decree. The sale was duly confirmed and a sale certificate has since been issued.