1971 (9) TMI 88

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hampur Electric Supply Corporation Ltd. (opposite party No. 2) having its registered office at Berhampur was incorporated as a public company limited by shares. Opposite parties Nos. 3 to 8 are the directors of the company. By a special resolution passed on August 16, 1962, the company was put to members' voluntary winding-up and Shri Y. Chalapati Rau, opposite party No. 3 and one of the directors....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....as liquidator of the company. C. Raghunatham, one of the two partners of the firm of Rowe and Pal, has filed a counter affidavit stating that M/s. Rowe and Pal is a partnership firm and is not a body corporate and that, consequently, the appointment of the firm as the liquidator has not violated section 502 read with section 513 of the Act. Section 513 of the Act enjoins that a body corporat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ns are divided into two classes, namely, (1) corporations aggregate, and (2) corporations sole. We are not concerned in the present case with "corporations sole". A corporation aggregate has been defined as a collection of individuals united into one body under a special denomination, having perpetual succession under an artificial form, and vested by the policy of the law with the capacity of act....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... as an entity. But, as provided by the law, a firm is but a convenient name to describe a collection of individuals who enter upon a business or of other venture subject to the terms of agreement inter se. One of the privileges of a partner is to represent the other partners and the firm and be in a position to act for and on behalf of all the partners. The liability of the firm is joint and sever....