1933 (11) TMI 17

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....es Bank Ltd., for directions under the following circumstances: The company in liquidation passed a resolution for voluntary winding up on 21st September, 1931. A compulsory order for winding up was made on 18th December, 1931. There were a number of servants of the company who had not been paid their wages for some time before the voluntary winding up. Under section 230 (1)(b) of the Indian Compa....

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....order. If the two months run from before the date of the compulsory order, the servants who have lost their employment at the date of the resolution for voluntary winding up would not have any claim in priority. If, however, the date from which the two months' period is to be reckoned is the date of the voluntary winding up then they all would have a claim in priority to the extent of two months' ....

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....08 and to section 231 of the Indian Companies Act. In that case it was decided that when a voluntary winding up is followed by a compulsory winding up then for the purposes of the fraudulent preference section, that is section 164 of the Act of 1862 and section 210 of the Act of 1908, the act of bankruptcy is the presentation of the petition, that is, the presentation of the petition for a compuls....