Section LXIX
Course to be pursued by Court on petition of a creditor.
The Joint-stock Companies Act, 1857
About this Act
An Act to make better provision for the order and good government of the Suburbs of Calcutta and of the station of Howrah.
Upon the hearing of
any petition presented by a creditor, the Court may dismiss such petition with or without
costs to be paid by the petitioner, or it may make an order directing the Company, by a
day to be named in the order, to pay or secure payment to the creditor of all mo nies that
may be proved due to him, together with such costs as the Court may direct ; or the Court
may, if it so thinks fit, on the hearing of such petition, make an order or decree for
winding-up the Company in the first instance, or such other order as it deems just.