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<h1>High Court dismisses appeal on stay removal, allows banking company's winding up petition to proceed; appeal dismissed with costs.</h1> The High Court of Madras dismissed the appeal against the order removing the stay on a winding up petition of a banking company, allowing the winding up ... Compromise and arrangement The High Court of Madras dismissed the appeal against the order removing the stay on a winding up petition of a banking company, allowing the winding up petition to be considered without waiting for a scheme to be presented to shareholders and creditors. The appeal was dismissed with costs.