Supreme Court · 1964 INSC 68 · Decided 11 March 1964
K Joseph Augusthi and Two ORS. v. M. A. Narayanan, Official LIQUIDATOR. Palai Central Bank LTD .
- Court
- Supreme Court of India
- Citation
- 1964 INSC 68 · [1964] 7 S.C.R. 137
- Case number
- CIVIL APPEAL No. 254/1963
- Decided
- 11 March 1964
- Bench
- P.B. GAJENDRAGADKAR, K.N. WANCHOO, J.C. SHAH, N. RAJAGOPALA AYYANGAR, S.M. SIKRI (5-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 20(3); Companies Act
Headnote
SUl'HE'.\rn COURT REl'OHTS 137 K JOSEPH AUGUSTHI AND TWO ORS. v. M. A. NARAYANAN, OFFICIAL LIQUIDATOR. PALA! CENTRAL BANK LTD . IP. B. GAJENDRAGADKAR, C.J., K. N. WANCHOO, J. c. SHAH, N. RAJAGOPALA AYYANGAR ANDS. M. SIKRI, JJ:] Banking Companies Act-Banking Company under liquida· if they are commercia!lv rmsound-Ordinarv public e:i.:ani:nation-Covrt has to see only that a prima facie case is est•lb!ished--Constitution oj l udia, Art. 20(3)-Ban'dng Com- panies Act, 1949 (X of 1949). s. 45G. · The appellants were directors of Palai Central Bank Ltd. On an
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