Document Fragment View

Matching Fragments

(1) Order dated July 20, 1981 a winding up petition instituted by Harish Bansal and some other praying for the winding up of M/s Moti Films Pvt. Ltd., was admitted after issue of show cause notice and citation was directed to issue. The company and one of its Directors have appealed to challenge the validity of the said order. The order under appeal shows there are five grounds on which the petition has been admitted. These are : (a) that previously a petititioners with Lesser allegations, being C.P. 64 of 1980 had been admitted; (b) that there were statements in the pleadings showing that the Company was in the nature of a partnership from which the petitioners had been ousted from mangements. The judgment in the case of Ebrahimi v. Westbourne. Galleries Ltd., (1973 Appeal Cases 360) was relied upon and a document dated May 2, 1980 showing the nature of partnership was relied upon. (e) Sums of money due to Mrs. Madhu Bansal and two of the partnership firms had not been paid, so the Company was unable to pay its debts. Moreover, it was claimed that the capital has been wiped out due to the loss of Rs. 1,20,000.00 in the first year. (d) There were allegations of lack of probity on the part of the respondents, one such allegation being that a flat bringing to the Company in Bombay which was bought for Rs. l,00,000.00 was sold to Mrs. Santosh Bhandari, mother of Ramesh Bhandari, for l,55,000.00 . This was after the agreement of May 2,1980 and after another suit relating to M/s Moti Plast Engineering Industury, one of the firms mentioned in the agreement of may 2,1980. That suit was instituted by Shn R.P. Bhandari for dissolution of the firm. (e) There was allegation regarding manipulation of the accounts of the firm which could only be examined after the evidence was recorded.