ORDER : -Application No.4499 of 1954 as amended by order in application No.770 of 1955, is for sanction to prosecute by directing that a complaint be filed against (a) K. Chengalvaraya Mudaliar, the first respondent, under S.209, Penal Code, and (b) K. Balu Mudaliar, M. Natesa Mudaliar and S. Velu Mudaliar, respondents 2 to 4 under S.195, Penal Code and also under S.209, Penal Code coupled with S.109, Penal Code.

2. The first respondent filed application No.2583 of 1951 on the Original Side of the High Court for a declaration that the dissolution of the Thirumagal Corporation Ltd., was void and for consequential proceedings to be taken as if the company had not been dissolved, for the realisation of the moneys due to the first respondent.

The case of the first respondent was that the Thirumagal Corporation was a private limited company incorporated under the Indian Companies Act on 6-9-1946 with a. share capital of Rs.2,00,000, divided into one hundred shares of Rs.2000 each, that he was a share-holder owning five fully paid up shares of the value of Rs.10,000, that Messrs. Ganesh and Company were the managing agents of the Company, that at the extraordinary general meeting