1935 (1) TMI 17 - HC - Companies Law

Summary

The judgment concerns an application under Section 186 read with Section 215 of the Indian Companies Act by the Liquidator of the All-India Cattle Insurance Company Limited for payment orders against certain contributories. The main objection raised was regarding the allotment of shares, which the court overruled citing Section 86 of the Companies Act. The court held that the objectors were properly placed on the list of contributories and ordered them to pay the specified amounts. Instalments were allowed only for one respondent, Lala Shiv Dayal, for a large sum due. Liquidator's costs to be paid from the company's assets, and objectors to bear their own costs.