CHUNNILAL ONKARMAL A JOINT HINDU FAMILY FIRM Vs. SHREE VIKRAM SUGAR MILLS LTD

JUDGEMENT

(1.) THIS is a petition under Section 171 of the Indore Companies Act, which is similar to the Indian Companies Act, 1913, for leave to continue the suit filed by the petitioners, the Joint Hindu Family Firm, Chunnilal Onkarmal and Chunnilal onkarmal Ltd. , against the State of Madhya Bharat, His Highness the Maharaja Sir vikramsingh Rao of Kolahpur and the Vikram Sugar Mills Ltd. , being the Company under liquidation

(2.) THE petition is opposed by the Liquidators as also by two of the creditors and debenture holders of the Company namely Govindram Saxsaria Trust and R. B. Seth Hira Lalji.

(3.) IN order to consider the question whether the leave sought for, should be granted or refused it is necessary to take into account a lew preliminary facts having a bearing on the question under consideration. It is also necessary to take into account the nature of the suit in respect of which the leave is sought.