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TMI Blog2019 (5) TMI 1106X X X X Extracts X X X X X X X X Extracts X X X X ..... p; and Jaishankar V. Nair , for the appellant/second petitioner. A. N. Rajan Babu , P. Gopalakrishnan and A. R. Easwar Lal , for respondents Nos. 1 and 2. S. Sujin for respondent No. 3. Mohan Pulikkal , Smt. Manju Rajan and Smt. A. Amrutha Vidyadharan for respondent No. 5. T. K. Shajahan , Senior Government Pleader for respondents Nos. 6 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xxxx xxxx xxxx (2) Where the petition is presented on the ground that it is just and equitable that the company should be wound up, the Tribunal may refuse to make an order of winding up, if it is of the opinion that some other remedy is available to the petitioners and that they are acting unreasonably in seeking to have the company wound up instead of pursuing that other remedy." The above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a contributory of S.N.D.P.Yogam which is a non-trading company to which the Companies Act, 1956 does apply. Clause (4) of the Memorandum of Association of the S.N.D.P.Yogam speaks both of 'liability' as well as 'shares' making it ambiguous warranting an adjudication as to its constitution. The Memorandum of Association does not give any indication of S.N.D.P.Yogam being a compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence in procedure to be adopted, it is not such which is irreconcilable and cannot simultaneously be gone into. Indeed these are made in the manner indicated before. It has to be borne in mind that a discretion is conferred on the Court and it is only when the Court is satisfied that the facts justify the making of a winding up order on the ground that it is just and equitable that the company sho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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