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TMI Blog1938 (8) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... who is the liquidator appointed in the voluntary liquidation. There is a third prayer that certain sale proceedings in the Court of the Munsif of Shikohabad in suit No. 364 of 1936 be stayed pending the disposal of this application. When the matter came up before me on August 4, 1938, I gave Mr. Sanyal who appears for the applicants, leave to amend his application and this has been done. The application as originally framed mentioned that it was one under various sections including Section 221 of the Companies Act. This latter section deals with powers of the Court to make an order that a voluntary winding up shall continue subject to the supervision of the Court. It may be pointed out that in the application as originally drafted no menti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the process of being wound up voluntarily to demand that it should be wound up compulsorily. Section 218 of the Companies Act as it now stands is materially different from the corresponding section in the old Act which was Section 219. By that section both creditors and contributories had to show that they were likely to be prejudiced but since the Amending Act of 1936 the creditors need no longer show that they are prejudiced. Great stress is laid upon this Amending Act but in my view the present Section 218 of the Companies Act means that any creditor who would otherwise be entitled to a compulsory order for winding up may apply to the court for such an order though the company is at the date of such application in the process of being w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p should be converted into a compulsory one. The applicants in this case are B. Shri Gopal Chandra, a vakil practising at Agra, and L. Panna Lal. The former is the liquidator appointed in the voluntary liquidation but he appears in his personal capacity. The other applicant is a creditor for a considerable sum and he at present holds a decree for Rs. 2,800 which has not been satisfied. No section of the Companies Act has been cited to me which enables the liquidator in a voluntary winding up to ask the court to pass an order compulsorily winding up the company. The liquidator represents the company although in these proceedings he is not stated to be acting as such. The other applicant Panna Lal is, as I have stated, a creditor and he i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... structed counsel but clearly they also are entitled to have this application dismissed. As they do not appear to have incurred any costs I will make no order as to costs with regard to them. Mr. Sanyal has argued that I should allow this application to be amended so that the company should be made a party. I have already allowed one amendment of this petition and the amendment which is now asked is that I should substitute the company for all the present opposite parties. In other words that 1 should change the whole complexion of the application. I feel that I cannot possibly accede to this prayer. If the applicant Panna Lal wishes to pursue an application for conversion of the voluntary winding up into a compulsory one he should commenc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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