https://www.taxtmi.com/caselaws?id=98444 The note addresses a petition seeking winding up on the just and equitable ground, applying the principle that winding up is appropriate where the company's substratum has gone or its main business has become impossible; the court found that mere mismanagement, misappropriation or general allegations of oppression do not alone justify winding up where other objects remain capable of being carried on. The availability of alternative statutory and contractual remedies under the Companies Act and the articles of association was decisive; consequently the petition was dismissed with costs. en-us Fri, 18 Aug 1967 00:00:00 +0530 Fri, 20 Jan 2012 16:44:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98444 The note addresses a petition seeking winding up on the just and equitable ground, applying the principle that winding up is appropriate where the company's substratum has gone or its main business has become impossible; the court found that mere mismanagement, misappropriation or general allegations of oppression do not alone justify winding up where other objects remain capable of being carried on. The availability of alternative statutory and contractual remedies under the Companies Act and the articles of association was decisive; consequently the petition was dismissed with costs. Case-Laws Companies Law Fri, 18 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98444