Judgement

Appeal (No. 87 of 1936) from a decree of the High Court (April 29, 1935).

The appellant Syndicate was a company registered under the Indian Companies Act. The respondent, who was the holder of a single ordinary share in the Syndicate, presented a petition to the High Court for the winding-up of the Syndicate under the Indian Companies Act (VII. of 1913), s. 162, on the ground that the Syndicate was unable to pay its debts. In his petition he set out, from his point of view,

Law. Rep. 64 Ind. App. 143 ( 1936- 1937) Bharat Dharma Syndicate, Limited V. Harish C handra

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certain facts and particulars relating to the position and working of the Syndicate to support the allegation that the Syndicate was unable to pay its debts.

In an affidavit filed on its behalf the Syndicate denied that it was unable to pay its debts, and answered the allegations made by the respondent. The respondent, in reply, filed an affidavit wherein he made several serious charges of fraud against Swami Gyananand, who controlled the Syndicates affairs.

The petition was heard by a Bench of two judges of the High Court, and they directed the winding-up of the Syndicate, stating in their judgment " We fin