9911796707
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Issues:
1. Setting aside an ex parte decree made in a company application. 2. Rectification of the register of members of a company in liquidation and deletion of an applicant as a contributory. Analysis: 1. The judgment deals with two applications: one for setting aside an ex parte decree and the other for rectification of the register of members of a company in liquidation. The ex parte decree was passed against the applicant as a contributory, directing payment of a specified sum with interest. The applicant alleged unawareness of the decree until a later date, but the court found this claim unsubstantiated as the applicant had inspected records earlier and promised to settle the matter. The court emphasized that the decree had become final and conclusive, barring any grounds for setting it aside unless the applicant could establish a valid reason for rectification of the register. 2. The concept of "rectification" of a company's register was discussed, emphasizing the need for a prior error or defect to be corrected. The court highlighted that rectification should be based on just cause or equity, and the applicant must demonstrate a valid reason for removal from the register. The judgment cited precedents to underscore the importance of prompt action and avoidance of laches in seeking rectification. It was noted that the applicant's knowledge of his inclusion in the register and the delay in taking action weighed against his plea for rectification. 3. The judgment delved into the significance of rectification post-company liquidation. It was established that a member must take proactive steps to remove their name from the register before liquidation to avoid being too late for rectification. The court cited legal principles emphasizing the rights of creditors post-winding up and the inability of a shareholder to repudiate shares after liquidation. The applicant's delay in filing the rectification application and the finality of the balance order against him were pivotal in the court's decision to dismiss both applications. 4. Ultimately, the court dismissed both applications, citing the lack of substantial grounds to set aside the decree or rectify the register. The judgment underscored the importance of timely action, absence of laches, and adherence to legal principles in seeking rectification. Despite the dismissal, no costs were awarded due to the peculiar circumstances of the case.
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