9911796707
TMI Blog1993 (4) TMI 247X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs, civil or criminal on behalf of the petitioner-company. By moving this application under sections 512 and 518 read with sections 467 and 468 of the Companies Act, 1956 (Act No. 1 of 1956), hereinafter to be called as "the Act"), read with rule 9 of the Companies (Court) Rules, 1959, the voluntary liquidator has prayed that the petitioner's claim for Rs. 1,68,405 be allowed with costs and decree be passed in favour of the petitioner against the respondents with interest, etc. It is alleged that respondent No. 1 took a loan of Rs. 3,76,000 from the petitioner-company on different dates by executing promissory notes and other loan documents. The loan was payable on demand. A sum of Rs. 2,99,655 was paid by way of adjustment and Rs. 16,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmissions made by learned counsel for the petitioner cannot be accepted and no help can be derived from the decision cited by him. The question whether such a petition by a company or a liquidator will or will not be maintainable against a debtor of a company was neither the subject-matter of an issue in the said decision nor the same was decided. No such objection as regards the maintainability was raised and there is nothing stated in the decision that such a petition is competent or not. Section 512 of the Act enumerates the powers and duties of the liquidator in voluntary winding up. It authorises the voluntary liquidator to exercise, with the sanction of the court, or a committee of inspection and if there is no such committee on a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tories, and any trustee, receiver, banker, agent, officer or other employee of the company , to pay, deliver, surrender or transfer forthwith, or within such time as the court directs, to the liquidator, any money, property or books and papers, in his custody or under his control to which the company is prima facie entitled." The aforementioned provision empowered the court, after making an order of winding up, requiring any contributory, a trustee, a receiver, banker, agent or other officer of the company to pay, deliver, surrender to the liquidator any money, property, books and papers in his custody and control to the company. In a nutshell, the order, which the court can pass directing delivery of money, property, etc., to the liqui ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the ordinary courts to pass decrees arising out of the disputed claims can be ousted only by specific provisions of law. Section 185 of the Indian Companies Act empowers the court exercising jurisdiction under the Act, to require contributories and certain agents and officers of the company to deliver any money, property or documents in their hands to the liquidator. It does not give the court any power to pass orders against persons other than those mentioned in the section. Section 188 of the Act says that the court may order any contributory, purchaser or other person from whom money is due to the company to pay the same into the account of the official liquidator in any scheduled bank instead of to the official liquidator and any s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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