Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2010 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (7) TMI 780 - MADRAS HIGH COURTWinding up - huge amount is due from the respondent, since the respondent-company had stopped the manufacturing process – Held that:- agreements entered into with the approval of the secured creditors, the manufacturing process of the respondent-company was allowed to commence on supply of materials by the applicant with the main intention that the applicant which is one of the creditors has to receive large amounts from the respondent and therefore, not only public interest is involved in the said agreements, but the agreements also work for the betterment of the respondent-company and its creditors, particularly, the secured creditors since the agreements gave scope for revival of the respondent-company and ultimately, in that event, it would result in the dismissal of the company petition itself, application stands allowed
|