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1994 (9) TMI 365 - MADRAS HIGH COURTExtract: .......urther, the Board can recommend winding up only when it is not possible to revive the sick industrial company and it is just and equitable to wind up the company. Therefore, we see no merit in the contention that section 20 of the Act is violative of article 14 of the Constitution. 10. For the reasons stated above, these writ appeals are dismissed.
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