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2009 (5) TMI 543 - HC - Companies LawWhether this court has the power to stay a voluntary winding up? - permanently staying the voluntary liquidation of the company and thereupon seeking discharge of the liquidators seeked - Held that:- Considering the powers of this court, this court is of the opinion that it will not be detrimental to anyone if the company is restarted. In the circumstances and particularly in view of the fact that the share-holders/contributories want to revive the company and there being no impediment whatsoever in doing so, the application is allowed. Consequently, there shall be a permanent stay of voluntary liquidation of the company which was being carried on in terms of the special resolution dated 20-1-1970. The operations of the company shall stand revived and restarted and the shareholders of the company are permitted to elect the members of its board of directors.
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