( 1 ) COMPANY Appeal Nos. 2, 3,4 and 8 of 1969 have been placed before the full bench in view of the order of reference dated October 17, 1974 passed by S. N. Shankar, and T. P. S. Chawla, JJ.

( 2 ) THESE appeals arise out of the order dated 4-2-1969 passed by the learned Company Judge (S. N. Andley, J. as his Lordship then was) in Company Petition Nos. 70, 71, 68 and 69 of 1967 respectively. This order will dispose of all the four appeals as common question of law is involved.

( 3 ) THE facts of Company Petition 70 of 1967 alone are being stated here as they are sufficient to illustrate the common question of law arising in the aforesaid appeals.

( 4 ) MAJESTIC Finance Private Limited was ordered to be wound up by the order of the High Court of Punjab (Circuit Bench at Delhi) in Civil Original 31-D of 1964 by order dated 11-12-1964 passed by S. B. Capoor, J. The Official Liquidator filed a petition under section 446 (2) (b) of the Companies Act, on 14-6-1967 for the recovery of Rs. 1,11,866. 30 from three persons including Jaimal Singh Makin, the appellant before us in all the four appeals.

( 5 ) SIMILAR applications were filed against Jaimal Singh Makin and others