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2008 (9) TMI 566 - HC - Companies LawWinding up - Circumstances in which a company may be wound up - Held that:- In light of the various principles enunciated by the decisions cited by both the sides, it becomes apparent that the present is not a case where prima facie one can say that a frivolous petition has been presented and entertained. In fact, on facts the impugned order made by the Company Court is in consonance with requirements of law and does not require to be interfered with. In the result, the appeal is dismissed. Interim relief granted in Civil Application No. 13 of 2007 vide order dated 17-1-2007 shall stand vacated. The Company Court shall proceed with hearing of the Company Petition from the stage at which the impugned order was under challenge.
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