Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2008 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (12) TMI 408 - HC - Companies LawWinding up - Circumstances in which a company may be wound up - Held that:- Admission of a winding up petition is fraught with serious consequences. Hence, when the company is a going concern and it is functioning, an order of winding up may prove disastrous unless there are materials to point out that the existing and probable assets are insufficient to meet the existing liability. Thus winding up of a company is not a matter of course to be taken up whenever there is an inability to pay the debts. Going by the facts herein and the evidence, no hesitation in rejecting the petition. Hence, this company petition is dismissed. It is, however, open to the petitioner to take recourse to such remedies as are available under law to enforce its claim.
|