District Board, Rohtas Vs. Arrah Sasaram Light Railway Co. Ltd. and ors. - Court Judgment

Excerpt:

- [k. jayachandra reddy and; g.n. ray, jj.] - companies act, 1956 — section. 518 — court competent to order winding up of a company -- the learned judges having examined the scope and effect of section 518 and the relevant authorities held that the scheme of the act and the provisions contained in various sections clearly indicate that the court which has the power to order winding up of a company enjoys the power of transfer of a suit in case of compulsory winding up of a company and also enjoys the same for voluntary winding up. stay is vacated.k. jayachandra reddy and; g.n. ray, jj.1. we have gone through the judgment of division bench of the high court and the connected records. the learned judges having examined the scope and effect of section 518 and the relevant authorities held that the scheme of the act and the provisions contained in various sections clearly indicate that the court which has the power to order winding up of a company enjoys the power of transfer of a suit in case of compulsory winding up of a company and also enjoys the same for voluntary winding up. we see no ground to interfere in the interim order. the appeal is dismissed. there will be no order as to costs. stay is vacated.