https://www.taxtmi.com/caselaws?id=99351 The court granted the winding up petition against the company for its failure to implement a sanctioned scheme under the Companies Act, 1956. The court found that the company did not fulfill its obligations as per the scheme, including payment to unsecured creditors and continuation of export business. Due to the company's lack of sincerity and failure to provide a valid explanation, the court ordered the winding up of the company. The court made the summons absolute in favor of the applicant, reserving the decision on costs for a later date. en-us Thu, 04 Mar 1976 00:00:00 +0530 Fri, 27 Jan 2012 10:47:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99351 The court granted the winding up petition against the company for its failure to implement a sanctioned scheme under the Companies Act, 1956. The court found that the company did not fulfill its obligations as per the scheme, including payment to unsecured creditors and continuation of export business. Due to the company's lack of sincerity and failure to provide a valid explanation, the court ordered the winding up of the company. The court made the summons absolute in favor of the applicant, reserving the decision on costs for a later date. Case-Laws Companies Law Thu, 04 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99351