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2019 (4) TMI 943 - Tri - Companies LawDirection to pass Winding up of order in respect of first respondent company - appointment of Official Liquidator to take possession of the assets properties, books and records of the first respondent company by following the summary procedure of winding up - HELD THAT:- Section 273 of the Companies Act lays down what order to be passed by the Tribunal if a petition under Section 272 of the Companies Act is presented before it. Section 273(2) of the Companies Act, 2013 says where a petition is presented on the ground that it is just and equitable that company should be wound up, the Tribunal may refuse to pass an order of winding up if it is of the opinion that some other remedies are available to the petitioners and the petitioners are acting unreasonably in seeking the remedy of winding up instead of pursuing other remedies. In the case on hand the company name has been struck off by the Registrar of Companies under Section 248 of the Companies Act. Petitioners are having a remedy to have the company restored and seek an order for operation of bank amounts that are freezed. By doing so petitioners have a remedy of getting back their amounts which is in the bank accounts. But petitioners without seeking restoration of the company under Section 252(1) or 252(3), unreasonably, asking for winding up order. Petition dismissed.
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