SARJU THAKUR Vs. REGISTRAR OF COMPANIES

JUDGEMENT

(1.) This appeal under Section 483 of the Companies Act, 1956 (hereinafter referred to as "the Act") (wrongly styled as L.P.A.), is against the order and judgment dated December 11, 1986, of the learned single judge, whereby he dismissed the application of the appellant filed under Section 446 of the Companies Act, 1956.

(2.) The petitioner-appellant filed a suit for recovery of certain money from Thakur Ram Ganga Prasad Private Limited, a company registered under the Act. That suit was decreed on May 4, 1976. The appellant started execution proceedings against the company by filing an execution case, which was numbered as Execution Case No. 25 of 1976. In pursuance of the execution proceeding the property of the company was sold and was purchased by the appellant. The proclamation of sale was made on April 3, 1978, in favour of the appellant and confirmed on July 6, 1978. Meanwhile, it appears that a petition was filed under Section 433 of the Companies Act for winding up of the company. This was made on September 30, 1977, and the winding up order was passed on November 2, 1979. The appellant moved this court on the company side for continuation of the execution proceeding in order to take possession of the property, which he has purchased in execution of the decree. This application was filed under Section 446 of the Companies Act some time in 1986. This was dismissed and against this order the present appeal has been preferred.

(3.) Under Sub-section (2) of Section 441 of the Act, proceedings for winding up of a company by the court shall be deemed to commence at the time of presentation of the petition for winding up. In the present case, therefore, the proceeding for winding up of the company commenced on September 30, 1977. Mr. Sharma relied on Section 441 of the Act, in support of his case, which is quoted hereunder :