CHAKRAVARTTI, C. J.

( 1 ) THESE are two appeals arising out of the affairs of the Calcutta National Bank Ltd. Appeal No. 157 of 1952 being directed against an order dismissing an application for a scheme and Appeal No. 169 of 1952 being directed against an order for the winding up of the company. The appellant in both the appeals is one Dwarkadas Agarwalla, who has described himself as the President of the Depositors* Association of the Bank.

( 2 ) THE appeals form the last chapter of a long story which commenced as long as on 14-5-1951, if not a little earlier. It appears that the Calcutta National Bank Ltd. is a fairly large undertaking with an authorised capital of Rs. 50,00,000/-, divided into 5,00,000 shares of Rs. 10/- each, all of which are fully subscribed and paid up. The assets of the Bank, as would appear from a report submitted by certain auditors under the directions of the Company Court, are considerable, but so are the liabilities of the Bank not inconsiderable. Apparently, the affairs of the Bank were not being conducted in a prudent and businesslike manner which attracted the attention of the Reserve Bank of India, and shortly before the date which I have mention

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