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<h1>Court dismisses company petition for winding up as respondent undergoing rehabilitation as sick company under SICA.</h1> The court dismissed the company petition for winding up Hope Textiles Limited, as the respondent was undergoing rehabilitation as a sick company under ... Winding up - Circumstances in which a company may be wound up The judgment pertains to a company petition seeking winding up of a company named Hope Textiles Limited. The petitioner alleged non-payment of a debt by the company. The respondent argued that it is in the process of being declared a 'sick company' under SICA and that a rehabilitation scheme is underway to address creditor claims. The court found no merit in the petition, stating that since the BIFR has determined the respondent as a sick company, there is no need to consider winding up. The petition was dismissed.
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