https://www.taxtmi.com/caselaws?id=96568 Allegations of misconduct and oppression in a winding-up petition were not proved, and the evidence showed no sufficient ground under the Indian Companies Act, 1913 to justify the original winding-up order. The court found the accusations against management reckless, inconsistent, and unsupported, while the company remained solvent and shareholders had largely acquiesced in the existing management. However, the order was left standing because liquidation had continued for years, the business had ceased, the undertaking had been broken up, and reversal would have caused greater disruption and litigation. The court stressed that future liquidation must proceed impartially and with due regard to the contributories' wishes. en-us Tue, 28 Jul 1931 00:00:00 +0530 Mon, 09 Jan 2012 14:27:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96568 Allegations of misconduct and oppression in a winding-up petition were not proved, and the evidence showed no sufficient ground under the Indian Companies Act, 1913 to justify the original winding-up order. The court found the accusations against management reckless, inconsistent, and unsupported, while the company remained solvent and shareholders had largely acquiesced in the existing management. However, the order was left standing because liquidation had continued for years, the business had ceased, the undertaking had been broken up, and reversal would have caused greater disruption and litigation. The court stressed that future liquidation must proceed impartially and with due regard to the contributories' wishes. Case-Laws Companies Law Tue, 28 Jul 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96568