- (1.)The judgment of the court was deliver by GOVINDA BHAT J. - This appeal under section 483 of the Companies ACt 1956 (hereinafter called the "act"), is directed against the order of Pai J. dated the 4th Day of November, 1968, made in Company Application No. 154 of 1968 in Company Petition No. 4 of 1967, refusing leave to the applicant before him who is the appellant before us under section 446 of the Act to prosecute and continue O.S.No. 30 of 1967, on the file of the Court of the Subordinate Judge, Adoni, Kurnool District, Andhra Pradesh, in which the respondents are the defendants.
(2.)The matter arises in this way: The appellant a firm of merchants dealing in yarn with the place of business in Adoni, had dealings with the Yellamma Cotton, Woollen & Silk Mills Co. Ltd., Davanagere. They were advancing money to the company towards or on account of yarn to be supplied to them. As a result of the said transactions, the company is said to have become indebted to other appellant in a sum of about Rs. 18,000. The 2nd respondent before us, the managing director of the company, guaranteed the payment of the said amount. After exchange of notices, the appellant instituted on 6th September, 1967, Original Suit No. 30 of 1967 in the Court of the Subordinate Judge, Adoni, against the company and the 2nd respondent for the following reliefs:
(1) for a decree for the sum of Rs. 18,329.90 with future interest and costs against the first defendant-company; and (2)For a decree personally against the second defendant for the said amounts with future interest and costs.

(3.)The company, on a petition presented to this court by a creditor on June 6, 1967, was ordered to be wound up by order dated October 5, 1967, made in Company Petition No. 4 of 1967. The official liquidator attached to this court was appointed as the official liquidator of the company.
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