Ebrahim v Tait (C.A. 2-1935.)
Observed later treatment
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Holding
The Court held that where an Official Liquidator applies under section 196 of the Companies Ordinance for public examination of a company promoter or officer, the affidavit must disclose a prima facie case of fraud against the specific person incriminated. A general allegation that fraud must have existed somewhere is insufficient. The affidavit in this case failed to disclose such facts. Further, section 196 does not authorise orders for repayment of money or personal liability for company debts — such relief falls under section 235 (misfeasance summons). The appeal was allowed and the order for public examination quashed.
Outcome
Order for public examination set aside
Facts
Kassam Ebrahim & Co., Ltd. was incorporated on 1 April 1931 to take over a partnership business formerly carried on by Kassam Ebrahim and Mohamedally Damji Virani. Each partner received 23,500 shares and Sh. 25,000 in cash as purchase price. Subsequently, Kassam Ebrahim drew Sh. 6,860/40 from the company towards the cash portion of the purchase price. A winding-up order was made. The Official Liquidator applied for a summons requiring Kassam Ebrahim to show cause why he should not repay the sum drawn, be publicly examined as to the promotion and formation of the company, and show cause why the formation should not be held fraudulent and he held personally liable for company debts. The Official Liquidator's affidavit stated that prior to formation the partnership books (kept in Gujarati) showed the partnership was insolvent, and that the company's recoverable assets would amount to only 33.23% of liabilities. The High Court of Uganda granted the order. Kassam Ebrahim appealed.
Issues
- Whether the affidavit of the Official Liquidator disclosed sufficient facts to give the Court jurisdiction to order a public examination under section 196 of the Companies Ordinance.
- Whether an order under section 196 is appealable.
- Whether section 196 authorises the Court to order repayment of sums or to hold persons personally liable for company debts.
Orders
- Appeal allowed.
- Order of 6th November 1934 quashed.
- Costs awarded to the appellant in this Court and the Court below, to be paid out of the assets of the company.
Rules and key headnotes
Legislation cited (7)
- Companies Ordinance (Uganda) Cap. 105 s.196
- Companies Ordinance (Uganda) Cap. 105 s.235
- Civil Procedure Ordinance 1930 s.66
- Companies (Winding-up) Act 1890 s.8
- Companies Act 1929 s.216(1)
- Companies Act 1929 s.276
- Indian Companies Act 1882 s.162
Cases cited (7)
- In re Trust and Investment Corporation of South Africa [1892] 3 Ch 332
- In re Laxon [1893] 1 Ch 210
- In re Birkdale Steam Laundry Co [1893] 2 QB 386
- In re General Phosphate Co [1895] 1 Ch 3
- Ex parte Barnes [1896] AC 146
- R. Wall v. J. E. Howard (1896 LL.B. 18 All., p. 215)
- In re Civil, Naval and Military Outfitters, Ltd [1899] 1 Ch 215
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.