cover image: The Calcutta Weekly Notes  May 26  1952

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The Calcutta Weekly Notes May 26 1952

1952

The Constitution has not defined the duties of a Governor except stating that the executive power of the State shall be vested in the Governor. [...] This section defines " the Court" for the purpose of Part III & Part IIIA as the High Court within the cognisance of which the registered office of the baning company is situated and declares that no other court shall have jurisdition to entertain any matter relating to or arising out of the winding up of a banking company. [...] The judgment says that on the making of a winding up order and the appointment of a liquidator it becomes necessary to make the liquidator a party to the proceeding because witout the liquidator the suit cannot further proceed. [...] The change which was brought about by the liquidtion in regard to the suit was merely this that in the conduct of their defence the bank would before liquidtione act through the directors and durirg liquidation through the liquidtors ". The judgment under consideration further refers to the necessity to obtain leave under section 171 of the Indian Companies Act to enable the suit to pr [...] In many cases I have had to give leave to the liquidator to give up the petty claims because the costs incured would not be commensrate with the amount of the bank's claim." Such then is the chronicle of the aforsaid special provisiOns and the misinter.0retatiOt thereof.'"
law
Pages
4
Published in
India
SARF Document ID
sarf.100104
Segment Pages Author Actions
The Calcutta Weekly Notes May 26 1952
lxxxix-xcii unknown view

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