1938 (9) TMI 12

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....Nainar and S. Venkatachala Sastri, for the Appearing Parties. JUDGMENT Leach, CJ. - The appellant is a company registered under the Indian Companies Act, 1913. It carried on business as a banking concern in Colombo and Madras. By reason of a rush by depositors to withdraw their moneys with the company it was compelled to suspend its business at Colombo on the 15th August last, and at Madras the....

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....The matter came before the Court on the 26th but the hearing was adjourned until the 30th August when the winding up petition also came before Gentle, J. The learned Judge ordered notice to issue on the application by the Directors under Section 153 of the Act but removed the stay order. He then passed an order appointing Messrs. Fraser and Ross provisional liquidators. This order, was, of course,....