Chennai Court April 1924 Judgments

In Re: the Indian Companies Act, 1913

Court: Chennai

Reported in: 85Ind.Cas.626

ORDERC.V. Kumaraswmi Sastri, J.1. This is an application by the Liquidator for directions as to various matters set out in the Judges Summons. The first question is as regards the charges set out in schedule A to the Liquidator's affidavit. Schedule A is a list of preferential charges which under the Act have to be paid first and there is no dispute about schedule A. The amounts in schedule A will be paid first by the Liquidator and to the sums mentioned therein will be added Rs. 21 costs allowed to Abdur Rahaman on his application as regards rent. As regards Schedule B, there is also no dispute as items referred to therein are sums payable in connection with income-tax and to the Postmaster General for customs duty. Schedule C refers to certain claims made by the Imperial Bank of Madras and to certain sums due to the Overseas Export and Import Co., and the Hongkong and Shanghai Banking Corporation. Items Nos. 1 and 2 of Schedule C refer to the Imperial Bank of Madras. The Imperial Ban...