https://www.taxtmi.com/caselaws?id=96649 Winding-up proceedings pursued without bona fides may attract costs against the petitioning creditor where no specific Companies Act provision governs the situation. The Lahore High Court treated the petition as not bona fide because the creditor had already realised the company's available assets in execution and pressed liquidation to exert pressure on the directors, while no useful purpose remained in continuing the liquidation. Applying the discretionary costs jurisdiction under Section 35, read with Section 141, CPC, the Court directed the petitioning creditor to bear the official liquidator's out-of-pocket expenses and remuneration. en-us Fri, 11 May 1934 00:00:00 +0530 Tue, 10 Jan 2012 10:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96649 Winding-up proceedings pursued without bona fides may attract costs against the petitioning creditor where no specific Companies Act provision governs the situation. The Lahore High Court treated the petition as not bona fide because the creditor had already realised the company's available assets in execution and pressed liquidation to exert pressure on the directors, while no useful purpose remained in continuing the liquidation. Applying the discretionary costs jurisdiction under Section 35, read with Section 141, CPC, the Court directed the petitioning creditor to bear the official liquidator's out-of-pocket expenses and remuneration. Case-Laws Companies Law Fri, 11 May 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96649