SULEKHA WORKS LTD Vs. STATE
LAWS(CAL)-1963-9-23
HIGH COURT OF CALCUTTA
Decided on September 19,1963

SULEKHA WORKS LTD. Appellant
VERSUS
STATE Respondents


Referred Judgements :-

FOSS V. HARBOTTLE [REFERRED TO]
MOZLEY V. ALSTON [REFERRED TO]
PIM V. WILSON [REFERRED TO]
BRIGHTON CLUB AND NORFOLK HOTEL CO. LTD. [REFERRED TO]
ANGLO-GREEK STEAM CO. [REFERRED TO]
AGRICULTURIST CATTLE INSURANCE CO.,EX PARTE: SPACK MAN [REFERRED TO]
GOLD CO. [REFERRED TO]
CADIZ WATER-WORKS CO. V. BARNETT [REFERRED TO]
LONDON AND PARIS BANKING CORPORATION [REFERRED TO]
SEATON V. GRANT [REFERRED TO]
HALLMARK'S CASE [REFERRED TO]
MACDOUGAL V. GARDINER [REFERRED TO]
WEAR ENGINE WORKS [REFERRED TO]
PLANET BENEFIT BUILDING AND INVESTMENT SOCIETY [REFERRED TO]
GOLD HILL MINES [REFERRED TO]
DENHAM AND CO. [REFERRED TO]
GOODSON V. GRIERSON [REFERRED TO]
HANCOCK [REFERRED TO]
KING V. HENDERSON [REFERRED TO]
HIGGINS V. WOODHAL [REFERRED TO]
BURLAND V. BARLE [REFERRED TO]
DOMINION COTTON MILLS CO.LTD. V. AMYOT [REFERRED TO]
CERCLE RESTAURANT CASTIGLIONI CO. V. LAVERY [REFERRED TO]
CRIGGLESTONE COAL CO. LTD. [REFERRED TO]
THOMAS EDWARD BRINSMEAD AND SONS. [REFERRED TO]
BRISTOL JOINT STOCK BANK [REFERRED TO]
DIAMOND FUEL CO. [REFERRED TO]
MELSON (ALFRED) AND CO. LTD. [REFERRED TO]
KRASNAPOLSKY RESTAURANT AND WINTER GARDENS CO. [REFERRED TO]
A.COMPANY [REFERRED TO]
CINE INDUSTRIES AND RECORDING CO. LTD. [REFERRED TO]
COMPANY V. RAMESWAR SINGH [REFERRED TO]
WELSH BRICK INDUSTRIES LTD. [REFERRED TO]
ALLURI TIMMARAJU V. NARASINHA RAJU [REFERRED TO]
MR.SHARBATI DEVI V. KALIPERSHAD [REFERRED TO]
CITY EQUITABLE FIRE INSURANCE CO.LTD. [REFERRED TO]
ELECTRICAL DEVELOPMENT CO.ONTARIO V. ATTORNEY GENERAL FOR ONTARIO [REFERRED TO]
CHHATRAPAT SINGH DUGAR V. KHANG SINGH LACHMIRAM [REFERRED TO]
HARIHAR KANTA V. RAMA PANDU [REFERRED TO]
V.SEETHIAH V. B.VENKATA SUBBIAH [REFERRED TO]
COOK V. DEEKS [REFERRED TO]
BHARAT VEGETABLE PRODUCTS LTD. [REFERRED TO]
NEWBRIDGE SANITARY STEAM LAUNDRY LTD. [REFERRED TO]
PERUVIAN AMAZON CO.,LTD. [REFERRED TO]
CLANDOWN COLLIERY CO. [REFERRED TO]
LOCH V. JOHN BLACKWOOD,LTD. [REFERRED TO]
YENIDJE TOBACCO CO.,LTD. [REFERRED TO]
BLERIOT MANUFACTURING AIRCRAFT CO.,LTD. [REFERRED TO]
BISHUNDEO NARAIN VS. SEOGENI RAI [REFERRED TO]
RAJAHMUNDRY ELECTRIC SUPPLY CORPORATION LIMITED VS. A NAGESNWARA RAO [REFERRED TO]
MOHAMMED AMIN BROS LTD VS. DOMINION OF INDIA [REFERRED TO]
RAMESH CHANDRA DUTTA VS. SURYA PROPERTIES LTD [REFERRED TO]
LAWANG TAHANG VS. GOENKA COMMERCIAL BANK LTD [REFERRED TO]
MOULAVI ALI AHMED VS. SMSHAMSUNNESSA W/O MUNSHI AMIRULLAH [REFERRED TO]
VENKATESWARA IYER VS. CHERRSERI MADATHIL RAVUNNI NAIR [REFERRED TO]
THE RIPON PRESS AND SUGAR MILL CO LIMITED, BELLARY VS. V GOPAL CHETTI [REFERRED TO]
T S MURUGESAM PILLAI VS. MANICKAVASAKA DESIKA [REFERRED TO]
LAKSHMI AMMAL VS. RATNA NAICKER [REFERRED TO]
D DAVIS & CO, LTD VS. BRUNSWICK (AUSTRALIA), LTD [REFERRED TO]





JUDGEMENT

B.C.Mitra, J. - (1.)Sulekha Works Ltd. (hereinafter, referred to as the (Company) is a public Company which was incorporated in 1946. The objects of the Company inter alia are the manufacture of ink and allied products. The Company was promoted by the members of a family (hereinafter referred to as the Maitras) and four outsiders. A Private Company, viz., Maitra Brothers and Co. Ltd. was and still is the Managing Agent of the Company. Sankaracharyya Maitra was the Managing Director of the Managing Agency Company and as such he was and is ex officio Director of the Company. He became the ex Offico Director in 1946 and is still such a Director of the Company.
(2.)The Company was started with a paid up capital of Rs. 12,000/- only. With this small capital the Company carried on business in a small way until 1951, from which year the volume of its business showed a phenomenal rise. The balance sheets from 1951 to 1961 disclose remarkable progress in the prosperity of the Company, The, gross sales of the Company from year to year, set out below will give a true picture of the Company's progress: JUDGEMENT_98_AIR(CAL)_1965Html1.htm The above figures are a clear indication of the progressive rise in the Company's prosperity. The balance sheets show that in 1952 the paid up capital of the Company was Rs. 1,09,370/- and in 1960 it was Rs. 3,23,000/-.
(3.)The present application arises out of a winding up petition presented on July 25, 1962 by one Amar Nath Sarma who is a contributory and a Director of the Company. The petition was admitted on the same day by S. P. Mitra, J. and various interim orders were made, to which I will refer later on. On March 5, 1963, an order was made directing inter alia usual advertisements in the Calcutta Gazette and two newspapers, but such advertisements were not to be issued till March 11, 1963. On the next day this application was moved on behalf of the Company for an order for dismissal of the winding up petition, an order recalling or setting aside the orders for advertisements made on March 5, 1963, stay of all further proceedings including publication of advertisement of the winding up petition and for other orders.


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