https://www.taxtmi.com/caselaws?id=99091 Section 15A was construed to apply to a company in liquidation even where its business had remained closed for several years, provided the business was not being continued when the opinion was formed. The Central Government's opinion had to rest on relevant material with a rational nexus to the statutory purpose, and the record on capacity, production loss, employment, exports, assets, and technical condition was held sufficient; no prior hearing was required before forming that opinion. The article 14 challenge failed because the statute supplied clear policy and guiding criteria, and the alleged mala fides were not established on the surrounding facts. The provision was therefore treated as constitutionally valid and operative for investigation into restarting the undertaking. en-us Tue, 04 Jul 1972 00:00:00 +0530 Wed, 25 Jan 2012 11:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99091 Section 15A was construed to apply to a company in liquidation even where its business had remained closed for several years, provided the business was not being continued when the opinion was formed. The Central Government's opinion had to rest on relevant material with a rational nexus to the statutory purpose, and the record on capacity, production loss, employment, exports, assets, and technical condition was held sufficient; no prior hearing was required before forming that opinion. The article 14 challenge failed because the statute supplied clear policy and guiding criteria, and the alleged mala fides were not established on the surrounding facts. The provision was therefore treated as constitutionally valid and operative for investigation into restarting the undertaking. Case-Laws Companies Law Tue, 04 Jul 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99091