1960 (6) TMI 16

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..... ismissed with costs. Further the applicant has got no locus standi. The reasons for dismissing this application are as follows : The applicant claims to have become vitally interested in the said company by reason of agreeing to buy 100 fully paid shares of Rs. 10 each in the said company, namely, Barabone Coal Concern Ltd. Annexure "A" to the petition shows that the applicant only intended to pu .....

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..... a certificate of posting of a letter addressed to the liquidator has been produced in court. Then the question arises as to whether this applicant can at all apply for such sanction to the liquidator. In my opinion, he is not so entitled ; only the shareholder transferor, in my opinion, can apply to the liquidator for transfer of his share. The liquidator, in my opinion, is not bound to take any n .....

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..... he Registrar of Companies about this company show that the company was running at a loss for several years whereas I find it has been stated in the petition that it was a very sound concern. This, I think, is sufficient to dispose of this application. I am unable to rely on this petition. In my opinion, the petition does not disclose any case. The application is dismissed with costs. Certified .....

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