https://www.taxtmi.com/caselaws?id=96706 Compulsory winding up on the just and equitable ground depends on whether, at the date of the petition, there was any reasonable prospect that the company could achieve the commercial object for which it was formed. The existence of a preference-share guarantee was not treated as decisive, except insofar as it affected the evidence. In assessing a private venture formed to trade profitably in Australia and New Zealand, the court considered trading losses, external financial support, trade conditions, and prospects of recovery after the depression. On the evidence as a whole, there was still a real prospect of commercial success, so the petition for winding up was not justified. en-us Thu, 30 Jan 1936 00:00:00 +0530 Tue, 10 Jan 2012 14:52:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96706 Compulsory winding up on the just and equitable ground depends on whether, at the date of the petition, there was any reasonable prospect that the company could achieve the commercial object for which it was formed. The existence of a preference-share guarantee was not treated as decisive, except insofar as it affected the evidence. In assessing a private venture formed to trade profitably in Australia and New Zealand, the court considered trading losses, external financial support, trade conditions, and prospects of recovery after the depression. On the evidence as a whole, there was still a real prospect of commercial success, so the petition for winding up was not justified. Case-Laws Companies Law Thu, 30 Jan 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96706