- (1.) C. A. 85 of 1965 was filed under Sections 468, 477 and 536 of the Companies Act, 1956, read with rule 9 of the Companies (Court) Rules, 1959, by the official liquidator, seeking a direction from this court that the Indian Bank Ltd. , Vellore, the respondent herein, shall pay Rs. 25,417. 15 p. with interest at the rate of 6% from February 12, 1965, till the date of payment to official liquidator. The following is the statement of facts submitted by the official liquidator.
(2.) ON a petition presented on April 11, 1957, by M/s. Marshall Sons and Co. , (India) Ltd. , Madras, this court in O. P. No. 4/1957, directed the winding-up of M/s. Vegetols Ltd. , Chittoor (herein referred to as the " company"), and the official liquidator became the liquidator of the said company. The appeal preferred against the said winding-up order, O. S. A. No. 3/1958, was dismissed on March 22, 1960.
(3.) AS per the account books of the company, it was found that sums aggregating Rs. 25,417. 15 p. were paid by the company and were received and retained by the Indian Bank Ltd. , Vellore (hereinafter referred to as " creditor") subsequent to April 11, 1957, the date of commencement of the winding-up of the company. Under Section 536 of the Companies Act, any disposition of the property made after the commencement of the winding-up shall be void, unless otherwise ordered by the court, as such the said sums are due from the creditor to the company.;