1955 (10) TMI 20

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....it works is situate in Alwar, now in Rajasthan. For reasons which are not disclosed here, but which one can imagine, the company passed a resolution for its voluntary winding up and the Rajasthan Government which was a creditor of the company in various sums applied for compulsory winding up which was ordered and Mr. K.L. Goel, an advocate of Rajasthan High Court, was appointed its official, liquidator. On the 28th December, 1954, an application was made by various creditors and contributories under section 153 of the Indian Companies Act stating that they had made an arrangement with Amar Nath Mehrotra of Messrs. Amar Nath Mehrotra & Co. of Sitapur for running the company. Consequently, on the 4th February, the learned District Judge ag....

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....ned Judge. It appears to me that the ground on which the scheme was rejected by the learned Judge is not adequate because Amar Nath Mehrotra was present in court on the 4th February, 1955, and stated that he had given a cheque for Rs. 10,000 to the Rajasthan Government in full and final settlement of the amount due to the labourers working in the factory and he also stated that negotiations were going on and it was for this reason that the proceedings were adjourned to the 25th. It appears that his counsel was present on that day, but it is correct that he did not appear on the 12th of March, and at that stage counsel for the Rajasthan Government seems to have insisted that Amar Nath Mehrotra being absent he must be taken not to be serious ....

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....had backed out and I asked him to arrange for the appearance of Amar Nath Mehrotra in this court and he is present before me today. Today counsel for the Rajasthan Government has come forward with new objections and states that his Government is anxious that somebody else, Lal Chand-Johri Mal, should be allowed to run the factory and that instead of Amar Nath Mehrotra they should be the financiers. This is a matter which really has to be decided by the contributories as well as by the creditors and they have already given their opinion about it. Besides a sub-committee appointed by the creditors of the company to consider the financial position of the intended financiers, i.e., Amar Nath Mehrotra and F. Lal Chand Johri Mal, had by a reso....