1931 (10) TMI 15

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....GMENT Milne, JC. - This is an application on behalf of the Karachi Bank, Limited, (in liquidation) by its Official Liquidators, Mr. Dharamdas Thawardas, Official Assignee, and Mr. Fatehchand Assudomal, Pleader, against one Castellino of Messrs. Cutler Palmer, Bombay. It is alleged by the applicants that on a petition, dated 14th March, 1929, this Court ordered the winding up of the Karachi Bank....

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....ay its debts as they became due from its own money and was made with a view to giving a preference to the opponent, over the other creditors. The Official Liquidators therefore prayed that the said payment be set aside and the opponent be ordered to pay back the said amount of Rs. 285 with interest at 6% from 6th March, 1929, to date of payment. The application was made under section 234 of the....

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....r the Bank had passed a resolution stopping payment of debts. The liquidator should file a regular suit to recover the amounts realised by such creditor. That was a ruling under the Act of 1882. It was held that sections 149 and 152 of the Act (corresponding to sections 100 and 103 of the English Act of 1862) referred only to the persons therein specifically mentioned. Section 149 corresponds to s....

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....f the English Act of 1862, the Court ordered the creditor to refund the money : it was held on appeal that the creditor was not a trustee within the meaning of section 100 and the Court had no jurisdiction to make the order; that section 100 of the Act of 1862 referred to the contributories and officers of the company and could not be extended to other persons. The applicants rely on certain En....