9911796707
TMI Blog2006 (2) TMI 291X X X X Extracts X X X X X X X X Extracts X X X X ..... judge noted that details of the loan were not given in the petition, nor any documents were annexed. He also noted that there was not even a receipt in the hands of the petitioners. The petitioners admitted in their petition that the respondent-company allotted certain shares in their favour and some other members of the family. On the allotted shares, no dividend was paid. They also alleged in the original petition that the substratum of the respondent-company had disappeared and the objects of the respondent-company had failed and it was impossible to run the business as there was no hope of trading at profit and the respondent-company would not be able to carry on its business. On August 4,1999, the respondent-company filed counter. On ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the admissibility of the company petition." Various grounds have been agitated in this appeal and we have heard learned counsel for the parties at length. We feel that the approach of the learned company judge was not correct, as the petitioners could not be faulted for not having filed a proper application seeking amendment in the company petition, as the court itself had ordered filing of an additional affidavit by order dated December 13, 1999. As it is well-settled that actions of the courts would prejudice none we feel that if the learned company judge had come to a conclusion that the subsequent affidavit filed in pursuance of the court order dated December 13, 1999, was not in the form in which it had to be filed, he should hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rbhai Somabhai Patel [1959] 29 Comp. Cas. 133 ; AIR 1959 Bom. 386, that if the preliminary objection of the respondent-company (appellant herein) had been upheld by the learned company judge, the petition could have been dismissed in the absence of any further resolution passed by the board of directors of the petitioning-creditor before the date on which the learned company judge passed the order under appeal, we have proceeded on the footing that the appeal is maintainable." Learned counsel for the appellants also argued that the substratum of the company had disappeared and the company was unable to repay the debts and therefore, the company petition should have not been dismissed. In view of our findings about the learned company jud ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
