S B MATHUR Vs. INDIA PROCELAIN LTD

JUDGEMENT

(1.) This is an appeal brought by one of the creditors who also happens to be a contributory against an order made by District Judge S.B. Capoor dated the 12th March, 1955 rejecting the claim which was passed under section 153 of the Indian Companies Act.

(2.) The Company has its principal place of business in Delhi and the factory which it works is situate in Alwar, now in Rajasthan. For reasons which are not disclosed here, but which one can imagine, the Company passed a resolution for its voluntary winding up and the Rajasthan Government which was a creditor of the Company in various sums applied for compulsory winding up which was ordered and Mr. K.L. Goel, an Advocate of Rajasthan High Court, was appointed its official Liquidator.

(3.) On the 28th December, 1954, an application was made by various creditors and contributories under section 153 of the Indian Companies Act stating that they had made an arrangement with Amar Nath Mehrotra of Messrs. Amar Nath Mehrotra & Co., of Sitapur for running the Company. Consequently, on the 4th February the learned District Judge agreed to this course and ordered that necessary meetings be held.