ORDER

W. Broome, J. - This petition filed by Sri Raja Mohan Manucha challenges the validity of three resolutions passed on 22nd September, 1962 at an extraordinary general meeting of the shareholders of the Ajodhia Bank Limited, Faizabad, purporting to initiate the voluntary winding-up of the Company and appointing Sri Lakshmi Nath Saigal (Opposite Party No. 1) as voluntary liquidator, with a sub-committee composed of Opposite Parties 3, 4 and 5, to supervise the work of liquidation. The chief ground on which the resolutions are challenged is that a number of invaild votes were recorded. It is unnecessary, however, for me to consider this aspect of the matter, as an objection of a more fundamental nature, affecting the very basis of the voluntary liquidation, has been filed by the Registrar of Companies to the effect that no declaration of solvency had been filed in his office in accordance with law, as required by section 488 of the Companies Act, and rule 313 of the Companies (Court) Rules, 1959.

2. Section 488 (2) (b) lays down that the aforementioned declaration of solvency must be accompanied by an audit report on the profit and loss account of the company for the period commen