1933 (11) TMI 17

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..... s: The company in liquidation passed a resolution for voluntary winding up on 21st September, 1931. A compulsory order for winding up was made on 18th December, 1931. There were a number of servants of the company who had not been paid their wages for some time before the voluntary winding up. Under section 230 (1)( b ) of the Indian Companies Act: "all wages or salary of any clerk or servant in .....

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..... mpulsory order, the servants who have lost their employment at the date of the resolution for voluntary winding up would not have any claim in priority. If, however, the date from which the two months' period is to be reckoned is the date of the voluntary winding up then they all would have a claim in priority to the extent of two months' salary. The construction of this section in my opinion is c .....

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..... se it was decided that when a voluntary winding up is followed by a compulsory winding up then for the purposes of the fraudulent preference section, that is section 164 of the Act of 1862 and section 210 of the Act of 1908, the act of bankruptcy is the presentation of the petition, that is, the presentation of the petition for a compulsory winding up. This case however, was considered in the case .....

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