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2008 (3) TMI 472 - HIGH COURT OF GUJARATWinding up - Circumstances in which company may be wound up by Tribunal - Held that:- Since the respondent company has lost its financial substratum and failed to discharge its liabilities towards the creditors, the companies is hereby ordered to be wound up. The official liquidator attached to this court is appointed as the liquidator of the company. He is directed to take charge of the assets, if any, of the company in liquidation. He is further directed to call for the details from the secured creditors, more particularly, from Bank of India and Dena Bank with regard to the amount realized from the sale of the assets of the company and amount paid to the workers till this date.
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