1940 (5) TMI 15 - HC - Companies Law

Summary

The High Court of Calcutta ruled that in a creditors' voluntary winding-up where procedural requirements were not followed, a meeting of creditors should be held to appoint a liquidator and establish a committee of inspection. The current liquidator was directed to hold off on further winding-up actions pending decisions made at the creditors' meeting. The application was adjourned for a month. (Case citation: 1940 (5) TMI 15)