Andhra Pradesh Court August 1979 Judgments
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In Re: Arkay Chit and Commercial Trading Co. P. Ltd. (In Liquidation)
Court: Andhra Pradesh
Decided on: Aug-03-1979
Reported in: [1982]52CompCas174(AP)
Ramachandra Rao, J. 1. This is an application filed by the official liquidator representing M/s. Arkay Chit and Commercial Trading Company (Private) Ltd. (in liquidation), for adding the following paragraphs in Company Application No. 40 of 1978.' (a) adding the following as para. 2A of the summons in the above C.A. No. 40 of 78, viz. : ' 2A. It is further submitted that on a scrutiny of the Hyderabad branch account books of the company, it was discovered that chit payments amounting to Rs. 54,000 (including dividend) have been paid twice to some of the persons in respect of the same chits, as detailed in annexure ' D ' and the respondents are liable to account for such double payment.' (b) Substituting the following, in place of the existing para. 4 of the summons, viz. : ' 4. It is, therefore, necessary that the respondents-directors may be examined and called upon to account for a total sum of Rs. 1,11,592 due to the company. ' ' 2. The facts relevant for the purpose of this applica...
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