1979 (1) TMI 195 - SUPREME COURT

Whether the appellants would be comprehended in the expression "any person interested in the affairs of the company?

Whether the appellants have become the members of the company or are the creditors of the company?

Held that:- The judgment of the Division Bench dated 16th July, 1976 is set aside and the order of the company judge dated 26th April, 1976 is restored . It may be mentioned that the appellants agree to implement the scheme. They undertake to bring Rs. 3 lakhs as liquid finance for implementing the scheme. The question of the know-how was examined by the company judge who has accepted their fitness to run the business and nothing was pointed out to us to depart from the same. Therefore, viewed from any angle, we see no objection to granting the application of the appellants for substitution/modification as sponsor of the scheme.