A. G. IRIKEFE, J.S.C. (Delivering the Leading Judgment): In suit M/126/73, the appellant before the Lagos High Court commenced winding-up proceedings against the respondents on an alleged liability arising under a bill of exchange.
The said proceedings were brought under the Companies Decree (No. 51 of 1968) and the petition states as follows:-
"(1) The Complete Home Enterprises (Nigeria) Limited (hereinafter called the company") was on the 21st day of November, 1962 incorporated under the Companies Act.
(2) The Registered Office of the company is at 38, Agege Motor Road, Alakija, Lagos.
(3) The nominal capital of the company is 30,000(pounds) (N60,000.00) divided into 30,000 shares of 1(pounds) (N2) each. The amount of the capital paid up or credited as paid up is 30,000(pounds) (N60,000.00).
(4) The objects for which the company was established are to import from overseas and sell various kinds of goods in Nigeria and to carry on other related activities as set forth in its Memorand…