1962 (6) TMI 32

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....ors' voluntary winding up of the Industrial Bank Ltd., filed a suit against the appellants and the same has been decreed by both the lower courts. The defendant appellants in second appeal raise three objections to the maintainability of the suit itself. The objections are (i) that the liquidators have not filed in court the power of attorney or other written authority as contemplated by rule 23 o....

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....appears to be the result of a small confusion of thought. The bank is a legal entity, which is now in liquidation, and is represented by the liquidators. Therefore, the liquidators are not the agents of the bank, but do themselves constitute the bank. If the liquidators do not appear themselves and authorise somebody else to make the appearance, then alone rule 23 can have any application. The se....

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.... there was a general body meeting and whether that general body nominated the same person or others as liquidators. What appears from paragraph 1 of the plaint is that the respondents were nominated by the creditors at their meeting. From this the learned advocate for the appellants argues that since there is no evidence to show that there was a general body meeting and also to show that the gener....

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.... the creditors nominated the respondents, they filed the suit. He also offers to produce those records in this court if so directed. I do not think, in the circumstances above mentioned, it is necessary to get those documents here. Thus, this objection must also fail. The third objection is the absence of sanction for filing the suit. Under section 457 of the Companies Act the powers of the liqui....