https://www.taxtmi.com/caselaws?id=100996 Section 15A of the Industries (Development and Regulation) Act, 1951 was construed purposively as an enabling provision intended to protect public interest, production, and employment. The Madras HC read the expression "being wound up by or under the supervision of the High Court" to include a pending winding-up petition, because the statutory scheme contemplated intervention to examine takeover, revival, or reorganisation even where winding-up proceedings were already on foot. On that reading, the Central Government's application was maintainable and permission to investigate the possibility of restarting the undertaking was granted. en-us Mon, 25 Feb 1985 00:00:00 +0530 Wed, 08 Feb 2012 12:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100996 Section 15A of the Industries (Development and Regulation) Act, 1951 was construed purposively as an enabling provision intended to protect public interest, production, and employment. The Madras HC read the expression "being wound up by or under the supervision of the High Court" to include a pending winding-up petition, because the statutory scheme contemplated intervention to examine takeover, revival, or reorganisation even where winding-up proceedings were already on foot. On that reading, the Central Government's application was maintainable and permission to investigate the possibility of restarting the undertaking was granted. Case-Laws Companies Law Mon, 25 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100996