https://www.taxtmi.com/caselaws?id=96574 Compulsory winding up petition concerning a bank was dismissed because creditor affidavits and meetings showed a substantial creditor majority opposed compulsory liquidation, contemporaneous exhibits did not establish inability to pay on the petition date, petitioners failed to prove undue preference, and viable reconstruction proposals with voluntary liquidation mechanisms were preferred; the petition was also treated as mala fide due to inconsistent representations and timing to frustrate shareholder and creditor resolutions, and the subsequent appeal against dismissal was dismissed. en-us Thu, 10 Dec 1931 00:00:00 +0530 Mon, 09 Jan 2012 15:04:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96574 Compulsory winding up petition concerning a bank was dismissed because creditor affidavits and meetings showed a substantial creditor majority opposed compulsory liquidation, contemporaneous exhibits did not establish inability to pay on the petition date, petitioners failed to prove undue preference, and viable reconstruction proposals with voluntary liquidation mechanisms were preferred; the petition was also treated as mala fide due to inconsistent representations and timing to frustrate shareholder and creditor resolutions, and the subsequent appeal against dismissal was dismissed. Case-Laws Companies Law Thu, 10 Dec 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96574