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2018 (8) TMI 1539 - HC - Companies LawComplete stay on the voluntary winding up of the respondent company - Held that:- This court does have the power to stay voluntary winding up process. See VOLUNTARY LIQUIDATOR, DIMPLES (P.) LTD., S.P. SOOD VERSUS REGISTRAR OF COMPANIES [1977 (3) TMI 97 - HIGH COURT OF DELHI] In opinion therefore this is a fit case to exercise power under Section 518(i)(b) of the Act to permanently stay the voluntary winding up of the said company. The Company is solvent. It is likely to receive funds in the litigation against MCL. The petition is accordingly allowed. The respondent company will file all the statutory reports before the ROC, as per law. The powers of the Ex-directors of the aforesaid company are restored. The liquidator will hand over the charge of the said company to the Ex.Directors pursuant to which the liquidator will be discharged from further proceedings in the winding up process. After the filing of returns by the said Company, ROC will mark the said company as active in their records.
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