https://www.taxtmi.com/caselaws?id=97779 In a compulsory winding-up petition, the court must have regard to the wishes of creditors, and a majority in value opposing liquidation is not conclusive but carries substantial weight where their stance is reasonable. On the facts, the company's assets exceeded its liabilities and it had prospects of continuing business, so the majority creditors' opposition justified refusing liquidation. In line with that result, the petition was dismissed and no order as to costs was made, as the court treated the creditors' reasonable opposition and the company's financial position as sufficient grounds to decline winding up. en-us Mon, 19 Dec 1960 00:00:00 +0530 Wed, 18 Jan 2012 10:48:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97779 In a compulsory winding-up petition, the court must have regard to the wishes of creditors, and a majority in value opposing liquidation is not conclusive but carries substantial weight where their stance is reasonable. On the facts, the company's assets exceeded its liabilities and it had prospects of continuing business, so the majority creditors' opposition justified refusing liquidation. In line with that result, the petition was dismissed and no order as to costs was made, as the court treated the creditors' reasonable opposition and the company's financial position as sufficient grounds to decline winding up. Case-Laws Companies Law Mon, 19 Dec 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97779