https://www.taxtmi.com/caselaws?id=97360 Where a company is already in voluntary liquidation, a compulsory winding-up order should not ordinarily be made against the wishes of the overwhelming majority of creditors, and those wishes must be given great weight. The court held that no special circumstances justified overriding creditor opposition, because the voluntary liquidation machinery was sufficient to provide for investigation, examination, and necessary directions. A separate just and equitable basis was also not established on the material before the court. The result is that creditor preference and the adequacy of the existing liquidation process can defeat a petition for compulsory winding up. en-us Wed, 05 Jan 1955 00:00:00 +0530 Mon, 16 Jan 2012 13:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97360 Where a company is already in voluntary liquidation, a compulsory winding-up order should not ordinarily be made against the wishes of the overwhelming majority of creditors, and those wishes must be given great weight. The court held that no special circumstances justified overriding creditor opposition, because the voluntary liquidation machinery was sufficient to provide for investigation, examination, and necessary directions. A separate just and equitable basis was also not established on the material before the court. The result is that creditor preference and the adequacy of the existing liquidation process can defeat a petition for compulsory winding up. Case-Laws Companies Law Wed, 05 Jan 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97360