Mr. Sen commended the following propositions for our acceptance: (1) that the scheme when sanctioned by the court became a statutory bargain and part of the company 's constitution, and therefore, all further arrangements of the pany 's affairs had to be on the basis of the rights and obligations thereunder; (2) that if the company were to be wound up, such winding up can only be ordered after compelling it to carry out those obligations and it would be opposed to equity and public policy to allow the company to escape its obligations by ordering it to be wound up, (3 ) that even if the scheme could be ignored by directing winding up it could only be done by putting the parties in the position they were prior to the scheme, and (4) that the winding up of the company being at the instance of the Jalans who had failed to carry out their obligation to find the finance, acceding to their prayer for winding up was tantamount to acceding to their default.