9911796707
TMI Blog1942 (7) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... winding up proceedings of a company called the Central Agency Corporation, in which the learned Judge refused to accept resignation of the appellant who had been appointed the official liquidator. The official liquidator, one Mulchand Lilaramsing, in his application to the Court, in which he asked to be relieved of his duties as liquidator, stated that there were no funds whatever belonging to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use the previous official liquidator had resigned, that he himself had asked the petitioner in the winding up proceedings to file a statement of the affairs of the company and to give him the custody of the books, but that he had no reply; that when he sought the assistance of the Court under section 195, Companies Act, the petitioner failed to appear in obedience to the Court's summons, and that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esign at any time. He has however, found no case on the point. But there is a case on the point referred to in E.D. Dignassee v. Chajju Ram [1919] 6 AIR Lah. 182; 53 IC 649 , where two learned Judges of the Punjab Chief Court compared the words of sub-section (1) of section 176 of the present Indian Companies Act (then section 142 of Act VI of 1882) with the corresponding words in the English ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... think, reading the words of sub-section (1) through, that it was intended that the words "on due cause shown" should govern the words "may resign or be removed by the Court," otherwise we should expect the sub-section to read : "any official liquidator may resign or may be removed by the Court on due cause shown". The absence of my word "may" before the words "be removed" seems to suggest that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e affairs of the company at his own expense when there is no prospect whatever of recovering the costs from the petitioner who can, not be traced. From the records it would appear that another gentleman has been suggested as the official liquidator in place of the appellant. We think, therefore, that the learned Assistant Judge was wrong in refusing to accept the resignation of the appellant. His ..... X X X X Extracts X X X X X X X X Extracts X X X X
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