NEINA MARIKAR v. CEYLON STANDARD PRESS COMPANY, LIMITED.

NEINA MARIKAR v. CEYLON STANDARD  PRESS
COMPANY, LIMITED.

Special, 279.

Company-Ordinances Nos. 4 of 1861, 6 of 1888, and 3 of 1893-Application for compulsorily winding up-Discretion of the Court to inquire into the bona fides of the application.

    Upon an application to the District Court by a registered shareholder in a Joint Stock Company for an order to wind up the Company compulsorily-

    Held, per MIDDLETON, J., that, as a general rule, after a resolution had been passed for winding up a Company voluntarily a shareholder could not obtain a compulsory order for winding up, there being no allegation in the petition or affidavit that it was not the majority of the shareholders who had assented to the voluntary winding up, or that there was any fraud on the part of those who had done so, or that they could not be trusted to determine the matter themselves, and that the resolution to wind up voluntarily was a sham.

    Held, per Curiam, the Court has a discretion vested in it by sections 78 and 80 of Ordinance No. 4 of 1861 to dismiss a petition for winding up a Company, if it is satisfied t

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