1937 (4) TMI 21 - HC - Companies Law

Summary

Defendants 1 and 2 appealed against the Subordinate Judge's order refusing their application under Order 23, Rule 3, Civil P.C. The Court held that a scheme of arrangement under Section 153, Companies Act, does not qualify as an adjustment by a lawful agreement or compromise under Order 23, Rule 3. The appeal was dismissed with costs.