https://www.taxtmi.com/caselaws?id=99282 The court found that the company's financial position, as evidenced by the balance-sheets, warranted an inquiry into its inability to pay debts. Serious disputes and loss of confidence in management indicated it was just and equitable to wind up the company. Despite some delay in hearing the petition, it was not dismissed outright. Concerns about advertising the petition were addressed by allowing for controlled advertisement to inform creditors. The court directed the petition's admission and specified advertising, setting a hearing date for February 1972. en-us Wed, 22 Dec 1971 00:00:00 +0530 Wed, 25 Jan 2012 17:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99282 The court found that the company's financial position, as evidenced by the balance-sheets, warranted an inquiry into its inability to pay debts. Serious disputes and loss of confidence in management indicated it was just and equitable to wind up the company. Despite some delay in hearing the petition, it was not dismissed outright. Concerns about advertising the petition were addressed by allowing for controlled advertisement to inform creditors. The court directed the petition's admission and specified advertising, setting a hearing date for February 1972. Case-Laws Companies Law Wed, 22 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99282