TaxTMI 
TaxTMI 
1934 (5) TMI 14
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.... order dated the 11th May, 1934, and it is not necessary to repeat them here. After hearing counsel for the petitioning creditor, we are of the opinion that the petition for the winding up of the company was not made in good faith by the petitioning creditor (Bharat Insurance Co.). The Bharat Insurance Company was the sole creditor of the Bombay House Limited and it appears that in execution of it....
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.... to adopt was to dissolve the company forthwith. The petitioning creditor, however, opposed this prayer and moved the Court that the Liquidator be directed to trace the Managing Director and other Directors and have them publicly examined. It was suggested that such examination would lead to the discovery of frauds which had been committed by them and for which they should be prosecuted. According....
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....for the winding up and insisting upon further proceedings in liquidation was not bona fide, and we do not see why in the peculiar circumstances of the case the entire cost of the liquidation be not paid by them. As already stated, the Company has not got assets and there is no reason why the Official Liquidator, who was appointed at the instance of the petitioning creditor and conducted the entire....