TaxTMI 
TaxTMI 
1967 (9) TMI 46
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....spondent claimed that it was "just and equitable" within the meaning of section 433(f) of the Companies Act, 1956, to make an order for compulsory winding up because one of the three factories of the company had been closed, that the accounts of the company were not being shown to the respondent, that no meeting of the company had been held, no balance-sheet had been prepared and a letter of resignation purported to be signed by the respondent had been forged. On July 18, 1966, Capoor J. directed that notice of the petition be issued to the appellant company. The order has not been formally drawn up, and it is not clear whether by that order it was intended to call upon the company to show cause why the petition should not be admitted, or t....
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....d fixing a date for the hearing thereof and for directions as to the advertisements to be published and the ' persons, if any, upon whom copies of the petition are to be served. The judge may, if he thinks fit, direct notice to be given to the company before giving directions as to the advertisement of the petition." Rule 24 which relates to advertisement of petitions provides: "(1)Where any petition is required to be advertised, it shall, unless the judge otherwise orders, or these Rules otherwise provide, be advertised not less then fourteen days before the date fixed for hearing, in one issue of the Official Gazette of the State or the Union Territory concerned, and in one issue each of a daily newspaper in the English language and a d....
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....ade where the court has issued notice, under the last clause of rule 96, and even when there is an unconditional admission of the petition for winding up. The power to entertain such an application of the company is inherent in the court, and rule 9 of the Companies (Court) Rules, 1959, which reads: "Nothing in these Rules shall be deemed to limit or otherwise affect the inherent powers of the court to give such directions or pass such orders as may be necessary for the ends of justice or to prevent abuse of the process of the court ", iterates that power. In In re A Company [1894] 2 Ch. 349 it was held that if the petition is not presented in good faith and for the legitimate purpose of obtaining a winding-up order, but for other purpose, ....