Form No. 121 - Summons under section 543(1) - Company Court Rules, 1959

Form No. 121 (See rule 260) [Heading as in Form No. 1] Application No. .......... of 19 ...... [in Company Petition No. .................. of 19 .........] [Official] Liquidator of ....... Company Ltd., or., Applicant A.B., a creditor/ contributory of the said company] ................................... Respondents Summons under section 543(1) Let all parties attend the siting Judge in Chambers on ......... (day), the ......... day of ......... 19 ........., at ......... o'clock in the ......... noon on the hearing of an application under section 543(1) on the part of the [Official] Liquidator of the company aforesaid [or A.B., a creditor/contributory of the above company] for 1. A declaration that the respondents, the ......... (promoters, directors, [31] [* * *], etc., as the case may be) of the above company had misapplied, retained or become liable or accountable for the money or property of the company, or were guilty of misfeasance and breach of trust in relation to the said company in [here set out briefly the ground on which the declaration is sought, e.g. paying to the shareholders dividend out of capital in respect of the financial year ........., or lending without consideration and without taking any security Rs. ......... of the said company to ......... on ......... 19 ........., whereby the same became wholly lost to the said company on the adjudication of the said as ......... as insolvent on ......... 19 ........., or as the case may be]. 2. An order that all necessary inquiries be made and accounts taken for ascertaining what sums the respondents are liable to contribute to the assets of the said company by way of compensation for such misfeasance and branch of trust as aforesaid. 3. An order that the respondents do jointly and serverally contribute to the assets of the said company and do pay to the [Official] Liquidator of the said company all such sums as they may be found liable to contribute to such assets together with interest on such sums at the rate of ......... per cent per annum as from the several dates when the said sums were respectively wrongfully paid away until the date of repayment. 4. An order that the said respondents do pay the costs of and incidental to this application. 5. Such other order as in the premises, the Court shall think fit to make. Dated this ......... day of ......... 19 ......... Advocate for applicant Registrar [This summons was taken out by Shri .................. advocate for the applicant]. To .................. (respondents) .................. Note. If you do not attend, either in person or by your advocate, at the time and place above-mentioned such order will be made and proceedings taken as the Judge may think just and expedient. 1 Title to be suitable modified in the case of a voluntary winding-up.