https://www.taxtmi.com/caselaws?id=96772 A pending proposal for a scheme under Section 153 of the Indian Companies Act, 1913 did not justify staying a winding up petition. The Court reasoned that the existence of a proposed scheme was no reason to delay hearing of the winding up application, which should be considered at the earliest possible moment. It further noted that even an order for winding up would not prevent a proper scheme from later being considered. The request for stay was therefore rejected and the winding up petition was allowed to proceed. en-us Thu, 15 Sep 1938 00:00:00 +0530 Wed, 11 Jan 2012 10:39:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96772 A pending proposal for a scheme under Section 153 of the Indian Companies Act, 1913 did not justify staying a winding up petition. The Court reasoned that the existence of a proposed scheme was no reason to delay hearing of the winding up application, which should be considered at the earliest possible moment. It further noted that even an order for winding up would not prevent a proper scheme from later being considered. The request for stay was therefore rejected and the winding up petition was allowed to proceed. Case-Laws Companies Law Thu, 15 Sep 1938 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96772