1956 (1) TMI 7

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....for the Respondent. JUDGEMNT Govinda Menon, J. - It is contended by Mr. R. Narasimhachari for the respondents that even if the company went into liquidation after the filing of the second appeal and during its pendency the liquidators cannot be brought on record as the representatives of the erstwhile company as appellants. The learned counsel contends that according to sections 155 and 156 of t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and Weaving Co. Ltd. v. Maneck Haji [1886] ILR 10 Bom. 483 convey the same principle. It seems to us that on a reading of the sections as interpreted by these judicial pronouncements the right which the liquidator has against the contributory is a statutory one and not a contractual one between the shareholders and the company. That being so, there is no cause of action which survives to the liqui....