https://www.taxtmi.com/caselaws?id=97876 Substratum fails only where the company's main or primary object has become impossible to fulfil, not where business is merely suspended, shifted, or temporarily abandoned. Construing the memorandum, the court found the objects were independent and that leasing the factory under an authorised clause did not destroy the company's essential purpose. The evidence also showed no true abandonment or impossibility: the lease was adopted to preserve the business during adverse conditions, the company still contemplated resuming operations, and it remained capable of future trading at a profit. No ground was therefore made out for compulsory winding up on just and equitable grounds. en-us Wed, 05 Jul 1961 00:00:00 +0530 Wed, 18 Jan 2012 14:28:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97876 Substratum fails only where the company's main or primary object has become impossible to fulfil, not where business is merely suspended, shifted, or temporarily abandoned. Construing the memorandum, the court found the objects were independent and that leasing the factory under an authorised clause did not destroy the company's essential purpose. The evidence also showed no true abandonment or impossibility: the lease was adopted to preserve the business during adverse conditions, the company still contemplated resuming operations, and it remained capable of future trading at a profit. No ground was therefore made out for compulsory winding up on just and equitable grounds. Case-Laws Companies Law Wed, 05 Jul 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97876