https://www.taxtmi.com/caselaws?id=97278 A compulsory winding-up order cannot be sustained where the liquidator is wrongly prevented from adducing relevant evidence, because the court then lacks the full material needed to exercise its discretion properly. The decision also rejects any universal rule that a voluntary winding up controlled by shareholders must always yield to creditors' interests. The creditors' wishes, including any preference for reconstruction, are a relevant factor under the statutory scheme and must be considered on sufficient evidence at a fresh hearing. The earlier orders were set aside and the petition was remitted for retrial on the evidence to be adduced. en-us Tue, 06 Apr 1954 00:00:00 +0530 Mon, 16 Jan 2012 11:41:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97278 A compulsory winding-up order cannot be sustained where the liquidator is wrongly prevented from adducing relevant evidence, because the court then lacks the full material needed to exercise its discretion properly. The decision also rejects any universal rule that a voluntary winding up controlled by shareholders must always yield to creditors' interests. The creditors' wishes, including any preference for reconstruction, are a relevant factor under the statutory scheme and must be considered on sufficient evidence at a fresh hearing. The earlier orders were set aside and the petition was remitted for retrial on the evidence to be adduced. Case-Laws Companies Law Tue, 06 Apr 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97278