Judgment

Misra, J.-The present appeal arises out of an order dated May 16, 1994 dismissing the appellant-Company appeal by the High Court. The short question raised by the appellant is: “Whether in the proceedings under Section 155 of the Companies Act, the Court has exclusive juris­diction in respect of all the matters raised therein or have only summary jurisdiction?” According to the appellant, there are conflicting decisions of the various High Courts in India which re­sulted into reference of Appellant’s case to the Full Bench by the Delhi High Court. The Full Bench decided that the jurisdiction is summary in nature, thus rejecting the case of the appellant that the power of the Court under this is exclusive in respect of all the matters raised therein.

2. In order to appreciate the point it is necessary to refer to cer­tain facts.

3. M/s. Ammonia Supplies Corporation (P) Ltd. (hereinafter referred to as an appellant-Company) went in liquidation and was directed to be wound-up by the Punjab High Court Circuit Bench at Delhi. By Order dated 24th December, 1962 the said High Court was pleased to transfer all proceedings to the Court of District Judge, Delhi. It is said Shri Muraril