Wacha, Dinshaw Edulji: Premchund Roychund: his early life and career (Bombay, 1913)

anxious only to see a speedy winding up
of his affairs and some fractional return
of the assets. The liquidation was under
Act XXVIII of 1865 which was specially
enacted in time by the Government of
Bombay in order that the anticipated
heavy bankruptcies might be speedily and
effectually wound up not by the ordinary
cumbrous and slow process of the
Insolvent Court but by the special machi-
nery of Trustees under the immediate
supervision of the Court. The Act was
to be in operation only for two years. The
Trustees appointed by the creditors, of
whom, of course, Messrs. Ritchie Stewart
& Co., and the Bank of Bombay were
the largest, were Messrs. G. Ramsay
Wilson, Thomas Fisher Punnett and
Michael Rosario de Ouadros. The last
was the Manager of the old and well
established Commercial Bank which, too,
had come to grief. Long indeed was the
period of winding the estate and most
tedious was the process of examining and

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