TaxTMI 
TaxTMI 
1940 (7) TMI 15
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....ies praying that an order may be made for removing the voluntary liquidator and appointing another liquidator, preferably the Court Liquidator, in his place, or in the alternative that the company may be directed to be wound up under the supervision and by and under the directions of the Court. It is conceded by both parties that the right to make the petition has to be decided according to the pr....
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....ction showing who is entitled to make the application, the Court can entertain such an application at the instance of any party. In support of this contention the learned Advocate-General relied on Sunlight Incandescent Gas Lamp Company, In re [1900] (2 Ch. 728) and Kaikkushru Chanda-bhoy v. Tata Industrial Bank [1924] (26 Bom. L.R. 237). It must be noticed that in neither of those cases the quest....
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....f section 207 are out of place. section 207 begins with the words "The following consequences shall ensue on the winding up of a Company." It is clear that the provisions found in sub-sections (8) and (9) are not consequences which ensue on the voluntary winding up of a Company. The English Companies Act, 1862, properly contained in a separate section (section 141) provisions similar to section 20....
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....ound that he was not a creditor of the Company whose liquidator he sought to get removed. The preliminary objection was thus upheld and the petition was dismissed with costs. This decision is shown to be good law and is noticed in recognised text books on company law as an authority for the proposition that the parties mentioned in section 138 only were entitled to make applications in a voluntary....