ELLAL TEXTILE MILLS LTD. Vs. MD. ABDUL AWAL

JUDGEMENT

(1.) These appeals by special leave is directed against the order of the Company Judge in Matter No.3 of 1982.

(2.) Respondents filed an application for winding up the petitioner No. 1 Company under section 162 of the Companies Act and in the same self application they also prayed for rectification of the share-register under section 38 of the Act.

(3.) The company was incorporated in 1953 and father of the respondent M. A. Jalil was one of the share-holders who died on 1.10.73. His uncle Md. Yusufuddin Mia who was also share-holder in the company died on 17.11.73. The respondent alleged that since then the petitioner No. 2 has taken complete control of the management of the company and no dividend was paid to the heirs of late M. A. Jalil nor has given them any notice of the meeting of the company or of the Board of Directors. It is alleged that the 1700 shares have been allotted to other share-holders without offering them to the heirs of late M. A. Jalil. It was further alleged that a dead-lock had been created in the Company and therefore it should be wound up.