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Determining the entitlement of the Registrar of Companies to make a petition for removing the voluntary liquidator and appointing another liquidator or winding up the company under the supervision of the Court. Analysis: The judgment revolves around the question of whether the Registrar of Companies has the right to petition for the removal of a voluntary liquidator and appoint another liquidator or seek the winding up of the company under court supervision. The legal basis for this determination is the Indian Companies Act, VII of 1913. The Court clarifies that the Registrar of Companies cannot maintain an application for winding up the company under court supervision as he is not listed in the Act as a party entitled to do so. The central issue is whether the Registrar of Companies is entitled to make the application to remove the liquidator. Regarding the entitlement to make such an application, the Court examines the provisions of section 207(9) of the Indian Companies Act, which allows a Court to remove a liquidator and appoint another upon cause shown. The applicant argues that since the section does not specify who can make the application, any party can approach the Court. However, the Court looks at precedents like Sunlight Incandescent Gas Lamp Company and Kaikkushru Chanda-bhoy v. Tata Industrial Bank, where the entitlement of the applicant to make the application was not discussed. On the other hand, the opponent relies on the case of New De Kaap, Limited, In re, under the English Companies Act, 1862, which had provisions similar to the Indian Companies Act, 1913. The Court emphasizes that in a voluntary winding up, only shareholders, creditors, or the liquidator have a legitimate interest. The Court agrees with the opponent's argument and concludes that the Registrar of Companies, not being one of the parties explicitly mentioned in section 215 of the Indian Companies Act, 1913, does not have the standing to make the application. Section 215 specifies the shareholders, creditors, and the liquidator as the parties entitled to make applications in a voluntary winding up. The Court deems this section as exhaustive of the persons permitted to make such applications. Therefore, the petition by the Registrar of Companies is dismissed with costs, as he lacks the locus standi to bring forth the application for the removal of the liquidator.
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