1937 (2) TMI 6

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....imited, be wound up. The decree was made on the petition of the respondent, who when he presented the petition was the holder of one ordinary share of ₹ 25 upon which ₹ 12 had been paid up. He deposited the balance of ₹ 13 in Court during the proceedings. 2. The petition was heard by two Judges, Thom J. and Iqbal Ahmad J. A long and elaborate reserved judgment was delivered, whi....

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....d have been more complete. It was contended that no order for winding up on the ground of insolvency should have been made on the evidence, and in no event at the Instance of this petitioner; and further that no order should have been made on the " just and equitable" ground, because no charge of fraud had beeni made in the petition, and no fraud had been established by the evidence in t....

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....ry amendments being made in the petition. 6. Upon the merits of the case, however, their Lordships feel bound to state(but without having heard counsel for the respondent on the subject)that;they are not prepared to accept as established by the evidence, all the findings of fraud embodied by the High Court in the last paragraph but three of the judgment. They think that it is only right to make t....

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....observed their demeanour, to form a conclusion as to the effect of the evidence as a whole. They observe, however, that after all the evidence had been placed before the Court, counsel appearing for the company based his opposition to a winding up order (which, ha admitted, must have been made had the company been an ordinary commercial concern) upon the ground of the exceptional and religious or ....