Section 88. Several awards may be made

88. Several awards may be made. 89. Awards made ill due time to bincl all parties. - 90, Power for Umpire to extend periocl for malting his award. 91.[Awards not to be set aside for informality. ] 88. The Arbitrator, and the Arbitrators, and the Umpire resl~ectively Several awards may may, if he and they respectively thinlc fit, make several be made. awards, each on part of the ilzatters referred, inst,earl of one amwd on all the lnatters referred. Every such award on part of the makters shall for such time as shall be stated in the award, the same being such as shall have been specified in the agreement for arbitration, or ill the event of no time having been so specified, for any time wlliclz the Arbitrator may be legally entitled to fix, be binding as to all the matters to which it extends, and as if the matters awarded on were all tlie matters referred, and that notwithstanding the other matters or ally of then1 be not then or thereafter awardecl on. `89.` The award of thc A~bitrator, `OP` OF the Arbitratoi?~, or of the UmArards made in due pirP,if .=a& ill wrifiag un&r Ss or +,lieii. i.espective Eland timetobindall~arties. or hailds and rea,cly to be deliverecl to the Companies within such a, time as the Companies agree on, or failing such agreement witl~in thirty days next after the matters in difference are referred to (as the case may be) the Arbitrator, or the Arbit.rators, or the Umpire, shall be binding a,i~d . coilclusive on a,ll the Companies.. `90.` Pro~7icled always that (except whcre and as the Companies othervise agree) the Umpire, Ysom time to time by writing unPovior for Umpire to extend period for der his llancl, may extend the l~eriocl ~vitliiil which his a~varcl making his award. is to he macle. If it be made and ready to be delivered within the extended time, it sllall lje as valicl and ei'fectunl as if macle ~vitliin the prcscribecl l~criod. `h n` nrcls ]lot t o l ~ c 91. No award made on any arl~itration in acco~dset asidc for illformalmet 117itli this Act shall be set, aside f o ~ ' any irrcgnlaritp ACT No. X OF 1866. 92.[Except only so far as the Companim botrnd by any award in &cord- ] ance with this Act from time to time' otherwise agree, all Awards to be obeyed. things by cvery award in accordance with this Act lawfully required to be done, oniitted or suffered, shall he done, omitted or suffered accordingly. `93,`[Full effect shall be given by the Courts according to their respective ] jurisclictioiis, and by tlze Companies respectively, and otlierAgreements, arbitrations andawards to vise, to all agreements, references, arbitrations and awards have effect. in accordance with this Act ; and the performance or ohservance thereof may, ~vlzere the Cowts think fit, be compelled by any process against the Companies respectively or their respective property that the Courts or any Judge thc~eof shall direct, and where requisite frame, for the purpose. 94.[Except where and as the Cornpallies otllerwise agree, the costs of and ] costs of arbitration[attendiiig tlze arbitration and the award. shall be in the ] and award. cliscretioli of tlze Arbitrator, mid the Arbitrators, and the Urnphe respectively. 95.[Except where and as the Companies otherwise agree, and ][if' ][and so ] far as the awarcl does iiot otlierwise determine, the costs of Payment of costs. ancl attencling t,he arbitration and the award shall be borne ancl ,>aid by the Companies in equal shares, and in other respects the Companies shall bear their own respective - costs. 96.[On ][tlie al3plicatioii of any party interested, the submissioiz to ally ] such arbitration may be filed in the High Court, slid an Submission to arbit,ration to be filed in orcler of reference may be made thereon, with any directiolis Conrt. the Court thinks fit ; and the provisio~is of tlie Code of Civil Procedure shall, so far as tlie same are applicable, apply to every such orcler ancl to all proceedings tlicreunder. 97.[The ][term ][" ][contributory" shall meail every person lial~lc to contri- ] ;\I enning of contri-[butc to thc asscts of a Colzzpany under this Act in the event ] bntory. of the samc bciiig \~~oulzd up ; it shall also, in all proceedings for cleter~lzining thc persons ~vlio arc to lsc dceinecl contributorics, a,lzcl in all procecclings procwedinga piaior to tlls fins1 cletsrmin~tio:i of such psrsoizs, iizzlnde any person alleged to be a contributory. 98. The liability of any person to colltribute to the assets of u Company Nature of under this Act in tlze event of tlie same being ~ ~ o u i z d up, shall of contributory. bc, deemed to create & debt accruing due from such persoil at tlze time when his liability commenced, but payable at the tin12 o~ respective times when calls are made as hereinaftel- ilzslztioned for enf'orcilzg sucl~ liability; and it shall be lawful in the case of the insolvency of any colztri1)utory t o prove against liis estate the estimated value of liis liability to futn1.e calls, as well as calls already made, 99. If any contributory dies eit1ie.rbcfore[OY ] after he has bee11 placed Contributories on tlze list of contrihutories hereilzafter ~izent,iclned, his pay- VHSP nf death. sonal representatives, heirs and devisees shall be liable in a due courss of almiuistriztion to colitribats to the assets of the Company in discharge of the liability af sucli decease3 coiitributory, and such 1101'sonal reprcsentatives, lleirs and clevisees shall he deemecl to be contsril~utories accordingly. 100. I f[any ][colzt~ibutory becomes insolvent, either. before or after he ] has been placed on the list of contributories, his assignecs - Coutributories in case of ins01venc~-. slzall be cleelzzad to represent such insoluent fgr all the pur. poses of the ~~ilzcling-up; mc1shall be deemed to be contributories accordingly, aiicl may be called upon to sdlziit to prove against the estate- of such insolvelzt, or othe~wise t o allow to be paicl out of his 'assets . in due course of law, an.y monies due from such insolseizt in respect of lzis liability to coiztributc io the asscts of tlie Colnpa~zg being vouilcl up. Tfi7zcling-zip by Cou~d. 101. A Colqttny under this hc5 mzg 113 ~vouud up l)jr thr, Cou~t as c ~ ~ ~ u m s t a n c e s under b ereinaftcr defi ne,l, uiider t,hc follovi `ug` cj rcums lances ; (tl1 at which Compauy inay be ~ o u n d up by Courl. is to say) - - thc (1.)[Whenever the Compaizp llas pnsied ][a ][Special l?c~olniion rcq~~iylilg ] Company -lo 132 mouncl up by tlzc Could : `(2.)`[T3Tl~.enever ] tlie Col?~paup doc? ]lot c;~~n:~ic.n'cic. j ts business nritllin a y13:t.i: from itls i~zco~~j)oi:~ition, or s;~sp~l.di its ljr~sinrsi; f o ~ illc?. sl~acc of a. \\-liale `1` . r , 1 8 f j ! I ... i . ACT 3 0 . X `OF` 1566. (3.)[Whenever t.11~ members are reduced in numbcr to less than seven ][: ] ( 4 . TVhenever the Company is unable to pay its debts : ( 3 )[lJTl~ene~rer ] the Court is of opi~zio~l that it is jnst ailcl eq~it~able that the C!ohpa.nna. should be wound up. C ~ r r ~ p a n y whkn-kt---- - 102. `il.` Collipnlly under this Act s1~al.l 1~c cieelnecl t,o ed uuable to pay its be ulzable to pay its clebt,s-clebks. (I.)[l~heaever ][a ][creditor, by assignnzent or otherwise, to \vliouz the. Com- ] pany is indebted in a suin exceeding five lz~mdrttd rupees then due, lzas served . . . o n the Coinpa'uy, by leaving the same act its rcgisterecl OiEce, n delnailcl under liis hand requiring the Company to par the sum so due, :lad the ~ b a z ~ 3 a i l ~ has for the space of three weeks succeeding l l ~ e service of sucll dclnnncl iloglootod to pa? such sum, or to secure or co~lzl~ouud fos tlle snmc to `ti]:?` rcnsonnblesatisfaction of the creditor : (2.)[13Theiiever execution or otller process issued on ][a ][decree ] [01.. ][oder. ] obba,in~d in any Coust in fa,voar of anx creditor, in ally prozee:Iing irzstituted by such creditor ttga,inst the Company, is returlzecl unsatisfied in whole or in part : (3.)[Whenever ][it ][is proved to the satisfaction of the Court that. the Com- ] ~~JI:I!; is.unable to ~ a y itsdebts. , ' 103, The expressioll " tlle Co.~urt," as used .in this l'art of this Act, sllnll ~ . , ~ f i ~ , i ~ i ~ , ~ of "the nzea11 the p~ilzcip~l Court hsving origind civil jurisdiction. Court." in the place in which the registere:\ 04ice of the Coinpsny is situate ; u~z'less in the r'eg~~latioiis for the mzunganent of the Company it slla,1l l ~ c stipulatecl tliat the Company if i~ro~und up shall be n;ound up by tile . Court of Judicx,ture at Fort William, Slaclras or 13o:lzbag (a.s tile cn,se ina,y he), or by the Chief Co~wt of tlze Punjab, in ~vhich case the ~oi'il " Court", sllaall nzeall the sa,id High Court or Chief C o u ~ t (as the case m%y be) in t8ilc csercise of its origin.al Ci.cil ,jurisrlic,t,ion. , `2` i i `3` j Go1?z1pnY~-~----- -; 104.[~l.11y ][application to the Court for the ~vinding-up ][o f - 7 ~ ] ullder this Act sllnll be by ~1~1zicli may be present,ecl, a L ~ ~ l ~ l i ( ~ n t i ; ~ ~ ~ h r m-inclir,y;,,p to b6 mncil: l,,T 11g tllc Collipany, OY 11y any ou:: or ilzorc creditor or cretlilors: 1>ctitio!i.. contl;i11nt-org o~ contribut~ories of t~lle Conlyniy, 01: 11:; all or :LllJ- of i . 1 1 ~ ;11j~)\-c: pnrt,ies: t,ogct,llel3 or scl~n~.,at.cl)~. --.I':~~e'l.), o:.rler n71iicll inn.:,; l ~ e I . ~lzade- ~lzade- I j i I i 1 i I ACrI' So. `S` `OF` LSGG. illacle on any s~lcli petition shall ol~cratc in favour of all the creditors and all the contributories of tlie Comp~ny, in the same manner as if it had been made upon tlie joint petitioll of a creditor and a contributory. 105. A n7inding-up of a. Cornpali~ by tlie Court shall bc deemed to colllComluencement of inence at the time of the presentation of the petition foY the wiadiag-up by Court. IVindillg-U13. 106.[Tllc Court ][may, ][at ][m y ][time ][after the przscutation of ][a ][petit'ion for ] h u r t lilny grant[winding-up ][a ][Comqaizy ~uzder this Act alid before ][making ] inj~ulction. an order for minding-up the Conipauy, ~tpoiz the aljplication oftlzc Co!zil~any or of any cralitor or ~9iltl.ibutory of t!lc Coiazpxn~, 'estraiil further proceediizgs in any suit or proceeding against tlie Colmyaizy, upon snch terilzs as the Court thial<s fit. Ti12 Court may &Is0 at ally tirn:: after the proaentatioiz of sucll pehi,ition : L I ~ l~efo14e the first appointment of Liquid%tors, appoiizt provisionally an Official Liquidator of the cstatc aizd effects of the C!olupan$.