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1997 Supreme(Mad) 440

S.S.SUBRAMANI
A. Somasundaram and another – Appellant
Versus
Jethanand Chatrumal and Others – Respondent


Advocates:
Mohan Parasaran, for Petitioners. T.R.Rajaraman, R.Sreekrishnan,
N. Varadarajan and S.Chidambaram, for Respondents.

Judgment :

Defendants 1 and 2 in O.S.No.210 of 1986, on the file of Subordinate Judge, Coimbatore, are the revision petitioners.

2. 98 persons joined together in filing the suit against eight defendants, for the following reliefs:

"... to pass a scheme decree:

(a) Directing the defendants 1 to 6 to deliver and handover the industry, M/s.Everest Engineering Works, functioning at Cross-cut Road, Coimbatore, with all its properties, assets, business, machineries, raw materials, stock-in-trade and finished materials to an administrator or a body of administrators to administer and run the same for such period till all creditors are paid in full or until it is wound up, or in the alternative.

(b) To appoint an Administrator or body of Administrators from among the creditors to take an inventory of all the; assets and properties of defendants 1 to 6 and take custody and possession of the same, take a full and complete accounts of M/s.Everest Engineering Works and prepare a list of creditors, sell the assets and properties of defendants 1 to 6 by public sale and distribute the sale proceeds to all the creditors according to law: (c) Directing the defendants to pay the plaintiffs the costs

























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