https://www.taxtmi.com/caselaws?id=96962 A company was not shown to have ceased carrying on business where its memorandum authorised amalgamation and shareholding in other telegraph companies, and the post-sale arrangement was treated as a continuation of business within those powers. Although its original telecommunication undertaking had been altered by statute, the substratum argument also failed because compensation for the statutory acquisition remained unresolved and foreign concessions were still vested in the company. Immediate liquidation would have been premature and potentially prejudicial to those interests, so compulsory winding-up was not justified at that stage. en-us Thu, 05 Jun 1947 00:00:00 +0530 Fri, 13 Jan 2012 14:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96962 A company was not shown to have ceased carrying on business where its memorandum authorised amalgamation and shareholding in other telegraph companies, and the post-sale arrangement was treated as a continuation of business within those powers. Although its original telecommunication undertaking had been altered by statute, the substratum argument also failed because compensation for the statutory acquisition remained unresolved and foreign concessions were still vested in the company. Immediate liquidation would have been premature and potentially prejudicial to those interests, so compulsory winding-up was not justified at that stage. Case-Laws Companies Law Thu, 05 Jun 1947 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96962