TMI Blog1993 (10) TMI 288X X X X Extracts X X X X X X X X Extracts X X X X ..... v. Roopnagar Credit and Investment P. Ltd. [1984] 56 Comp. Cas. 414 (Punj. Har.)., and Bachan Motor Financiers Pvt. Ltd. and Bala Financiers Pvt. Ltd. were ordered to be wound up, vide judgment of this court rendered in Company Petition No. 243 of 1980, decided on October 19, 1982. These were sister concerns. Gursharan Singh Bala and Bhupinder Singh Bala had been the managing directors of these companies. Gursharan Singh Bala's son, Harminder Singh Bala, had been the managing director of the Ambala Bus Syndicate Pvt. Ltd., Ropar (hereinafter "the appellant") from the year 1972, till April 11, 1980, and thereafter Birender Singh Bala, son of Bachan Singh Bala, took over charge as managing director. Roopnagar Credit and Investment Pvt. Ltd., Ropar, Bachan Motor Financiers Pvt. Ltd., Ropar, and Bala Financiers Pvt. Ltd., Ropar, entered into hire-purchase agreements with the appellant. These hire-purchase agreements stated that the finance companies were the full owners of the motor vehicles along with their fittings, tools, accessories, which were given on hire to the appellant through its directors, namely, Gurdial Singh Longia and Amar Singh. Swaran Singh, son of Joginder Sin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ransfer entries in the books of account. In fact, the petitioning companies did not advance any amount to the appellant, nor were they the owners of any of the motor vehicles. The appellant did not pay even a single instalment allegedly payable under the hire-purchase agreements to the petitioning companies. After Shri Harminder Singh Bala was removed from the managing directorship of the appellant-company by a unanimous resolution of the board of directors, he created liabilities against the appellant-company in favour of the petitioning companies in which his brother, father, his wife and children are the shareholders. A rejoinder to the written statement was filed on behalf of the petitioning companies, wherein the material averments made in the written statement were not controverted. Nine claim petitions were filed, which were placed in three groups by the learned company judge for the purpose of recording evidence. The evidence led in all these cases was practically in identical terms. From the pleadings of the parties, the learned company judge framed issues which are almost in identical terms. But, for facility of reference, issues framed in C.P. Nos. 36 to 39 of 1984 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich the loans may be made and the maximum amount of loans which may be made for each such purpose in individual cases. In case of dispute, the burden is on the company to prove the delegation. (See in this connection, Krishna Rathi v. Mondal Bros, and Co. (Pvt.) Ltd., AIR 1967 Cal 75 and Official Liquidator, Manasuba and Co. (Private) Ltd. v. Commissioner of Police, Madras [1968] 38 Comp. Cas. 884 (Mad). In the instant case, it was imperative for the petitioning companies to establish by positive evidence that the appellant company or its board of directors had by a resolution authorised Shri Gurdial Singh Longia and Shri Amar Singh, the directors of the appellant company, to enter into hire-purchase agreements with the petitioning companies. No such authorisation by the appellant-company has been proved. Shri Bhupinder Singh Bala appeared in the witness box and stated that he did not recollect any authorisation was made by the appellant-company in favour of Shri Gurdial Singh Longia and Shri Amar Singh to enter into hire-purchase agreements with the petitioning companies. In the absence of any authorisation by the appellant company or by its board of directors, Sharvshri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the money was paid to Gurdial Singh Longia and Amar Singh, the directors, who had entered into the hire-purchase agreements on behalf of the appellant-company with the petitioning companies. The petitioning companies did not adduce evidence vouchsafing the assertion of Shri Bhupinder Singh Bala that the amount claimed in the claim petitions was paid in cash to the appellant-company through its directors, Gurdial Singh Longia and Amar Singh. After stating so, Shri Bhupinder Singh Bala subsequently stated that the money claimed through the claim petitions is reflected as per the entries in the ledger and these entries were made by way of transfer entries from the books of account. His statement in unequivocal terms suggests as under: ( i )There was no authorisation to enter into hire-purchase agreements by the appellant-company with the petitioning companies; ( ii )The petitioning companies were not the owners of the vehicles allegedly given on hire to the appellant-company; ( iii )The money which is sought to be enforced through the claim petitions is only as a result of the book entries as are reflected in the ledger; and ( iv )The amount claimed in the claim petition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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