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of <h1>High Court dismisses appeal on stay removal, allows banking company's winding up petition to proceed; appeal dismissed with costs.</h1> <h3>Calicut Bank Ltd., In re</h3> Calicut Bank Ltd., In re - [1938] 8 COMP. CAS. 313 (MAD.) The High Court of Madras dismissed the appeal against the order removing the stay on a winding up petition of a banking company, allowing the winding up petition to be considered without waiting for a scheme to be presented to shareholders and creditors. The appeal was dismissed with costs.
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