https://www.taxtmi.com/caselaws?id=99978 The court determined that it was not just and equitable to wind up the company as its primary business activity of supplying electrical energy had ceased but it still had the ability to pursue other business objectives with available funds. The majority of shareholders voted to continue the business, and the court considered this, along with the company's remaining capital, in its decision. The appeal was allowed, the winding-up order was set aside, and the company was permitted to continue its operations. en-us Mon, 28 Jan 1974 00:00:00 +0530 Mon, 30 Jan 2012 17:53:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99978 The court determined that it was not just and equitable to wind up the company as its primary business activity of supplying electrical energy had ceased but it still had the ability to pursue other business objectives with available funds. The majority of shareholders voted to continue the business, and the court considered this, along with the company's remaining capital, in its decision. The appeal was allowed, the winding-up order was set aside, and the company was permitted to continue its operations. Case-Laws Companies Law Mon, 28 Jan 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99978