https://www.taxtmi.com/caselaws?id=99392 An application under section 15A of the Industries (Development & Regulation) Act, 1951 is not maintainable while winding-up petitions are merely pending, because a company is not "being wound up" until a winding-up order is actually made. Reading that phrase with the Companies Act, 1956 scheme, the court treated winding up and dissolution as stages that begin only after the order, and held that pending petitions do not by themselves trigger the statutory condition. Section 391(1) supported that distinction, and section 391(6) did not change the result. en-us Tue, 05 Apr 1977 00:00:00 +0530 Fri, 27 Jan 2012 11:47:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99392 An application under section 15A of the Industries (Development & Regulation) Act, 1951 is not maintainable while winding-up petitions are merely pending, because a company is not "being wound up" until a winding-up order is actually made. Reading that phrase with the Companies Act, 1956 scheme, the court treated winding up and dissolution as stages that begin only after the order, and held that pending petitions do not by themselves trigger the statutory condition. Section 391(1) supported that distinction, and section 391(6) did not change the result. Case-Laws Companies Law Tue, 05 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99392