Harnam Singh, J. - (1.) In order to appreciate the point of law that arises for decision in Civil Original No. 192 of 1950 the facts of the case may be set out in some detail.
(2.) On 10-2-1948, the Federal Bank of India, Limited, hereinafter referred to as the banking company went into voluntary liquidation under Section 203, Companies Act, 1913, hereinafter referred to as the Act.
(3.) On 6-8-1948, this Court made an order under Section 221 of the Act that the voluntary winding up of the banking company shall continue subject to the supervision of the Court:;