N K MOHAPATRA Vs. STATE

JUDGEMENT

(1.) This is a Letters Patent Appeal against the order of the learned company Judge by which the application filed by the appellant styled as one under sections 391 and 395 read with section 634 of the Companies Act, 1956 (in brief, the 'Act') has been rejected, inter alia, on the ground that the same is not maintainable at the instance of the appellant, he being neither a share-holder nor a member of M/s. East Coast Breweries and Distilleries Ltd. (hereinafter referred to as the 'company').

(2.) The facts and events leading to the filing of this appeal as portrayed by appellant are as follows:

(3.) IDC and the State appeared and questioned locus standi of the appellant. It was urged that appellant was neither a shareholder nor a creditor, nor did he enter into any compromise enforcement of which was sought for in the case. IDC in its counter affidavit filed took a stand that judgment of learned Company Judge dated 7-1-1977 has been fully implemented and appellant has no locus standi to file the application. Since the question of maintainability of application was urged, the parties agreed that the said question should be decided at the threshold. Learned Company Judge by impugned order has rejected the application which is subject matter of challenge in this appeal.