S.K.KESHOTE
J. M. International – Appellant
Versus
Magan Roller Flour Mills – Respondent
S.K. Keshote, J.-Heard learned Counsel for the petitioner-company and perused the entire material available on the record of the petition.
2. Thisis the Company Petition under Sections 433(e) and 434 of the Companies Act, 1956 filed by the petitioner-company with a prayer that the respondent-company M/s. Magan Roller Flour Mills Private Limited be wound up under the provisions of Section 443 of the Companies Act, 1956.
3. Havingheard learned Counsel for the petitioner-company I am of the opinion that in such matters the effective and proper remedy is to file a suit. It is the developing tendency amongst litigants more particularly dealing with the companies registered under the Companies Act, 1956 to make this winding-up jurisdiction of the Court as a forum for recovery of their dues. This is not the purpose and object of the Companies Act, 1956. They are making this winding-up jurisdiction of the Court as an executing Court for recovery of their dues. At the threat of this winding-up petition, if it is not unknown, many litigants have been able to get their dues. I may remind to the litigants of this category of Order 87 of the CPC a special provision for summary suits. O
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.