1964 (9) TMI 36

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....pellant. C.M. Devan for the Respondent. JUDGMENT Raghavan, J. - Three points are raised in this appeal against an order of our learned brother, Raman Nayar J. The first is that though Raman Nayar J. allowed some claims of the appellant, the General Secretary, Palai Central Bank Employees' Union, like dearness allowance, increments of salary, etc., those are not implemented by the responde....

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....by our learned brother, the argument has no force whatsoever. The closing down of the bank was something imposed on it by the order of the High Court and was, therefore, on account of unavoidable circumstances beyond its control. It was, in fact, in spite of and overruling objections against winding-up. The question that it was misconduct or mismanagement that brought about the winding-up is not r....

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.... the employees of the company except when the business of the company is continued. The argument is that the business of the bank was continued under the official liquidator and, therefore, the notice under section 445(3) did not come into play. An alternate contention is that if the business was not continued after the winding-up order, then the subsequent employment under the liquidator was a ne....

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....ision in In re Oriental Bank Corporation (MacDowall's case ( supra)). Chitty J. says in that case that when the bank closed its doors and ceased to carry on the business of banking even before the date of the winding-up order or at any rate. When the winding-up order was passed, the bank stopped the carrying on of its business, the banking business, in any proper sense of that term. Therefore, It ....