AI Structured Summary
Not yet generated for this judgment
Judgment
6 paragraphs · 112 words
1.
It has been argued on behalf of the plaintiffs that there has been no final and valid dissolution of the nidhi or company, but that is not a point that
has been referred for our consideration.
2.
The question referred assumes there was a dissolution and asks whether subsequent to such dissolution Seshayyar had power to endorse the
notes.
3.
Our answer to this question must be in the negative, as, with the dissolution of the nidhi, the powers of the liquidator also come to an end.
4.
Cf. In re Pinto Silver Mining Co. Ch. D. 273 and In re London and Caledonian Marine Insurance Co. 11 Ch. D. 140.