https://www.taxtmi.com/caselaws?id=101011 The petition for winding up the company was dismissed as the petitioner, although a contributory, failed to establish grounds for winding up. The notice given was deemed invalid, but the petition remained maintainable based on the company's inability to pay debts. The company's suspension of business, loss of substratum, and commercial insolvency were refuted, and the sale agreement with G.T. Oil Mills was found valid. The court noted the petition's mala fides due to personal motives. Consequently, the petitioner was not entitled to any relief, and each party was ordered to bear its own costs. en-us Mon, 14 Feb 1983 00:00:00 +0530 Wed, 08 Feb 2012 12:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101011 The petition for winding up the company was dismissed as the petitioner, although a contributory, failed to establish grounds for winding up. The notice given was deemed invalid, but the petition remained maintainable based on the company's inability to pay debts. The company's suspension of business, loss of substratum, and commercial insolvency were refuted, and the sale agreement with G.T. Oil Mills was found valid. The court noted the petition's mala fides due to personal motives. Consequently, the petitioner was not entitled to any relief, and each party was ordered to bear its own costs. Case-Laws Companies Law Mon, 14 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101011