"A director of a company is, in the eyes of the law, an agent of the company for which he acts and the general principle of the law of principal...
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"The 1st plaintiff is a natural person while the 2nd plaintiff is in law an artificial person. The dichotomy is important... In the often cited English case of Salomon v....
"Admittedly, the exercise of discretion upon known facts involves the balancing of a number of relevant considerations upon which opinions of individual Judges may differ as to their relative weight...
"It can be seen that the appointment must take into consideration (a) proof by affidavit of sufficient ground for the appointment of a provisional liquidator: sub-rule (1); (b) the previous...
"A distinction must be made between when, i.e. the proper occasion, to appoint a provisional liquidator and why, i.e. the purpose of appointing one. When will depend on the facts...
"The Companies and Allied Matters Act by section 78 makes a provision as how to serve documents generally or any company registered under it. By this, a court process is...
"The courts have held that such dispute must be genuine, not a sham but a real one based on substantial grounds."
"Care and utmost caution must be exercised by the institution of justice in proceedings involving the termination of the life of a company with responsibility not only to the society...
"The petition for winding-up of a company for inability to pay debt or insolvency is not to be treated like a claim for the payment of debt. As mentioned above...
"The appellant has put up a plausible defence to the action in that he has a serious counter-claim and because it believes that the respondent/petitioner was liable to it on...
"In a case where the debt is not paid within the time allowed and the debt is bona fide disputed, a winding-up order may not be made. In such a...
"It follows from the foregoing that it is possible for a respondent to a petition for winding-up to dispute the petition by bona fide challenging the debt or its being...
