IN RE. DHAKURIA BANKING CORPORATION LTD. Vs. A.B.C.

JUDGEMENT

(1.) This is an application for execution of an order passed in course of the winding-up of a Banking Company by attachment and sale of two properties both of which are situated outside the territorial limits of the ordinary original civil jurisdiction of this court.

(2.) On March, 10, 1949, the Banking Companies Act, 1949, came into force. On March 8, 1950, the Banking Companies (Amendment) Act, 1950, came into force. Sec. 10 of that Act inserted in the main Act Part IIIA consisting of sections 45A to 45H. Sec. 45A and section 45B vested exclusive jurisdiction with regard to matters relating to or arising out of the winding-up of a Banking company in the High Court exercising jurisdiction in the place where the registered office of the company is situated. Sec. 45H provided for enforcement of the orders made in civil proceedings by the court under Part IIIA of the Act.

(3.) The Banking company was ordered to be wound up by this court. On Dec. 4, 1951, an order was passed by this court giving liberty to the official liquidator of the Bank to enforce a call on the contributories for payment of the balance of the amount due in respect of the shares of the Bank. I am by no means prepared to hold without further argument that the order is a balance order for payment of calls. The argument on both sides has, however, proceeded upon the assumption that the order is an effective order for payment of calls under section 187 of the Indian Companies Act and I will decide this application on that assumption.