IN RE: AMBICA TEXTILES LTD. Vs. STATE

JUDGEMENT

(1.) THIS matter has come before me for settlement of the list of debts and claims.

(2.) THE Company was incorporated on 5th April 1945. The Company never carried on any business nor was any commencement certificate taken. Certain applications were made for shares in the Company and a total sum of Rs. 78,750 was paid to the Company by intending shareholders. The money received from the shareholders was deposited with the Central Bank of India Ltd., Clive Street Branch, a sum of Rs. 445 -14 -0 has since accrued as interest on the said deposit.

(3.) ON 28th April 1947, the Registrar, Joint Stock Company, issued notice under Section 247, Companies Act, for striking out the name of the Company from the register and on 18th September 1947, the Company's name was struck off.