https://www.taxtmi.com/caselaws?id=97165 A compromise or arrangement application may be brought by a member or creditor even while the company is in winding up, because winding up does not by itself exclude their competence to seek a meeting. However, a court will refuse to direct a members' meeting where the proposed scheme does not genuinely address the cause of liquidation, leaves the oppressive majority control substantially unchanged, rests on disputed and incomplete membership records, or lacks a bona fide and feasible basis for consideration. The arrangement was therefore treated as unsuitable for member deliberation, and the existing winding up position remained undisturbed. en-us Tue, 08 Jan 1952 00:00:00 +0530 Sat, 14 Jan 2012 12:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97165 A compromise or arrangement application may be brought by a member or creditor even while the company is in winding up, because winding up does not by itself exclude their competence to seek a meeting. However, a court will refuse to direct a members' meeting where the proposed scheme does not genuinely address the cause of liquidation, leaves the oppressive majority control substantially unchanged, rests on disputed and incomplete membership records, or lacks a bona fide and feasible basis for consideration. The arrangement was therefore treated as unsuitable for member deliberation, and the existing winding up position remained undisturbed. Case-Laws Companies Law Tue, 08 Jan 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97165