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of <h1>Delhi High Court dismisses winding-up petition against U.P. Mineral Products Ltd. under Companies Act</h1> <h3>Suresh Kumar Bansal Versus UP. Mineral Products Ltd.</h3> The High Court of Delhi dismissed the petition for winding up against U.P. Mineral Products Ltd. as the grounds did not meet the criteria under section ... Winding up - Company when deemed unable to pay its debts The petition for winding up against U.P. Mineral Products Ltd. was dismissed by the High Court of Delhi as the grounds did not fall under section 433(f) of the Companies Act. The court ruled that the issues raised, such as reduction of share capital and removal of petitioners from management, could be addressed through alternative remedies like Company Law Board jurisdiction or civil suits. The court found that resorting to winding up was not necessary in this case. Company Petition No. 35 of 1993 was dismissed.
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