1937 (3) TMI 10

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..... termining whether the petition should be granted or not, it is necessary for me to look at the allegations in the petition, and I do not propose to travel beyond them. The first allegation, the first grievance under which the petitioners labour, and which is made a ground for asking me to exercise the jurisdiction of the Court and to say that it is just and equitable to wind up the company, is thi .....

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..... uestions of fact, and perhaps an occasion for interrogatories or discovery, an action in the ordinary way in the Chancery Division. But, at least on a petition, I am not going to exercise my jurisdiction to wind up a company on that ground, on the footing that it is for that reason just and equitable. The next allegation in the petition is that at a certain date, 1936-for all those years between .....

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..... ay or may not be adequte, the directors thought fit in the year 1936 not to supply them with a balance sheet. I say no more about that, and I see no reason in that for winding up the company. In paragraph 9 a number of allegations are made relating to the salaries which the directors have received. No doubt they were masters of the situation, and they paid themselves what salaries they thought fi .....

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..... flicted injury on the company that the petition should remain on the file a moment longer than was necessary. In the circumstances I decided to go on with the petition and to allow, if I thought fit at a later stage, the cross-examination of the deponents. It appeared to me to be plain as the matter went on that it must be confined to the allegations in the petition, and therefore I did not allow .....

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..... unduly reduced to invade the rights of the petitioners. In the view to which I have come on the facts of this case I hold that the petition is misconceived. I should be travelling altogether outside any case in which a winding up has been decreed by the Court if, in circumstances such as these I held that it was. just and equitable to wind up the company. Accordingly I dismiss this petition with .....

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