OFFICIAL LIQUIDATOR OF MAHARAJA KISHANGARH MILLS LTD. (IN LIQUIDATION) Vs. MAHARAJA KISHANGARH SOMYAG MILLS CO. (TRANS.) LTD.

JUDGEMENT

(1.) Heard the learned counsel for the applicant and perused the memo of the application.

(2.) This application is filed by the applicant, the official liquidator of Maharaja Kishangarh Mills Ltd. (in liquidation) under rule 9 of the Companies (Court) Rules, 1959 ('the Rules'). In this application, it is prayed that the court may direct to the respondents to deliver the certificates of 66059 preference shares without any delay and/or pass such order as may be thought fit and proper.

(3.) Maharaja Kishangarh Somyag Mills (in liquidation) was leased out in the first instance to Tikam Chand Bhagchand for a period of 20 years and later on by an agreement dated 22-10-1942 the lessees Tikam Chand Bhagchand were allowed to float a company and thereby Maharaja Kishangarh Mills Co. Ltd. came to be incorporated on 24-10-1942. In the application Maharaja Kishangarh Somyag Mills is described as the 'old mill' and Maharaja Kishangarh Mills Co. Ltd. as 'new mill'.