1936 (4) TMI 6

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.... the Respondent. JUDGMENT Guha, J. - This appeal has arisen out of an application under section 47, Civil P.C., made by the appellant, raising objections to the execution of a decree obtained by the respondent on 3rd February 1933, in respect of the money deposited with the appellant, the Naokhila Loan Co, Ltd. The case of the appellant was that having regard to the scheme of arrangement sancti....

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....that as the respondent had ceased to be a depositor by obtaining a decree before the scheme was adopted at a meeting of the depositors, he was not bound by the scheme. The application under section 47, Civil P.C. was dismissed by the court below. It was urged in support of the appeal that the Court below should have held that in view of the scheme of arrangement under section 153, Companies Act, ....