1967 (7) TMI 89 - HC - Companies Law

Summary

The judgment by Buckley, J. in the Chancery Division discussed the importance of evidence in winding-up petitions under section 169 of the Companies Act, 1948. The court emphasized the need for true evidential value over hearsay evidence when grave allegations are made against a company or its officers. In cases where the company does not contest the petition, evidence presented may be considered sufficient for a winding-up order. The court made a compulsory winding-up order in the absence of any opposition.