https://www.taxtmi.com/caselaws?id=98390 An interested creditor may invoke section 559(1) of the Companies Act, 1956 to challenge a company's dissolution, and the application is timely if filed within two years of dissolution even if the court decides it later. Relief to set aside the dissolution, however, depends on strict proof of fraud or another sufficient ground. On the facts, allegations that the company was wound up to defeat tax creditors, that the liquidator acted fraudulently, and that the income-tax department was kept uninformed were not proved. The dissolution therefore remained undisturbed. en-us Mon, 24 Apr 1967 00:00:00 +0530 Fri, 20 Jan 2012 13:33:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98390 An interested creditor may invoke section 559(1) of the Companies Act, 1956 to challenge a company's dissolution, and the application is timely if filed within two years of dissolution even if the court decides it later. Relief to set aside the dissolution, however, depends on strict proof of fraud or another sufficient ground. On the facts, allegations that the company was wound up to defeat tax creditors, that the liquidator acted fraudulently, and that the income-tax department was kept uninformed were not proved. The dissolution therefore remained undisturbed. Case-Laws Companies Law Mon, 24 Apr 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98390