https://www.taxtmi.com/caselaws?id=97266 Whether a secured creditor may obtain a winding up order where it holds ample security and other creditors oppose the petition: the court confirmed a secured creditor may present a winding up petition without abandoning or valuing security, but retained discretion to refuse winding up where the order would not benefit the general body of creditors or where a large body of creditors oppose it; on the facts the petition would principally permit realisation of the creditor's security with no material benefit to other creditors, and the winding up order was set aside with the appeal allowed for the company (appellant). en-us Fri, 04 Dec 1953 00:00:00 +0530 Mon, 16 Jan 2012 11:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97266 Whether a secured creditor may obtain a winding up order where it holds ample security and other creditors oppose the petition: the court confirmed a secured creditor may present a winding up petition without abandoning or valuing security, but retained discretion to refuse winding up where the order would not benefit the general body of creditors or where a large body of creditors oppose it; on the facts the petition would principally permit realisation of the creditor's security with no material benefit to other creditors, and the winding up order was set aside with the appeal allowed for the company (appellant). Case-Laws Companies Law Fri, 04 Dec 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97266