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JUDGMENT OF LAKHA, J.A.
This is an appeal from the decision of the superior court (Kuloba, J.) given on 1 October 1998 in the Winding Up Cause No. 35 of 1997 on a petition under the Companies Act, Cap 486 section 211 relating to a company called K. Boat Services Limited ("the Company"). By that order, the learned judge struck out the petition and dismissed it with costs. The appellant now appeals from that decision.
The company was incorporated in January 1967 with an authorised capital of Kshs.400,000/= divided into 20,000 shares of Shs.20/= each with the objects of carrying on business of builders and repairers of boats and other vessels and as shipping and ship's agents and other objects as set out in the Memorandum of Association thereof. The shareholding of the Company was as follows:-
(a) Paolo Murri, the Petitioner - 6, 666 shares
(b) Pietro Murri, his brother - 6,667 shares
(c) Gian Battista Murri, his brother - 6,667 shares
Gian Battista Murri has been the Managing Director at all …