https://www.taxtmi.com/caselaws?id=99892 The court found that the petition filed by a contributory of the appellant company was not maintainable under section 466 of the Companies Act as the company was not in liquidation. The court refused to grant leave to the petitioner to present the petition, noting lack of justification and awareness of proceedings. Additionally, the court dismissed the application, citing mala fide intentions by the company in trying to stay the winding-up order for the benefit of other parties. The petition was deemed incompetent, dismissed with costs, and all interim orders were vacated, with amounts deposited to be refunded. en-us Thu, 07 Feb 1980 00:00:00 +0530 Mon, 30 Jan 2012 15:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99892 The court found that the petition filed by a contributory of the appellant company was not maintainable under section 466 of the Companies Act as the company was not in liquidation. The court refused to grant leave to the petitioner to present the petition, noting lack of justification and awareness of proceedings. Additionally, the court dismissed the application, citing mala fide intentions by the company in trying to stay the winding-up order for the benefit of other parties. The petition was deemed incompetent, dismissed with costs, and all interim orders were vacated, with amounts deposited to be refunded. Case-Laws Companies Law Thu, 07 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99892