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1962 (3) TMI 32 - SC - Companies LawWhether the appellant company having been ordered to be wound up by an order of a court of competent jurisdiction and the official liquidator being in charge of the same, the appeal by the managing director and agent was not properly filed and is not maintainable? Held that:- We do not think that section 457 of the Companies Act, 1956, or the corresponding provision in the 1913 Act contemplates that on an order of winding up by the court any person other than the liquidator shall have the power to institute or defend any suit, prosecution or other legal proceeding, etc. Harcharan Dass having ceased to be the managing director or managing agent was not competent to file the appeal or continue it on behalf of the company. The argument that there is no automatic cesser of the power of Harcharan Dass as agent or that the appeal is a continuation of the suit is not available to Harcharan Dass in view of the clear provisions in section 334(e) and section 457 of the Companies Act, 1956. We, therefore, hold that the preliminary objection must succeed and the appeal must be held to be incompetent, hence dismissed.
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