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2008 (2) TMI 622 - HIGH COURT OF ALLAHABADWinding up - Circumstances in which a company may be wound up - Held that:- The winding up of the company enures to the benefit of all the creditors of the debtor company. In the present case the company petition was advertised long ago and is pending for last more than 10 years. No other creditors except those, who have filed winding up petitions and those, who had opposed the scheme of restructure of debts have come forward claiming the dues either before the Court or before the Official Liquidator. The scheme for restructuring of debts demonstrated that the company is in production and wants to revive itself. It has shown its willingness and has now settled its dues with almost all its creditors. Thus the order dated 1-10-2007 winding up the respondent-company be re called. The winding up petitions are dismissed. The interim orders, which were passed in the winding up petitions are discharged. The Official Liquidator will intimate the respondent-company with the expenses incurred by it in the account of the company. The re spondent-company has assured to reimburse such expenses within a week of receiving the letter.
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