https://www.taxtmi.com/caselaws?id=101378 The court dismissed the petition for winding up the respondent company, as the delay in commencing business was reasonably explained, and there were fair prospects of the company starting its operations. The court found that the company had taken necessary steps and faced external hindrances beyond its control. It concluded that exercising the discretionary power under section 433 of the Companies Act, 1956, was not warranted, and the petition was dismissed with no order as to costs. en-us Thu, 05 Mar 1987 00:00:00 +0530 Thu, 09 Feb 2012 15:47:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101378 The court dismissed the petition for winding up the respondent company, as the delay in commencing business was reasonably explained, and there were fair prospects of the company starting its operations. The court found that the company had taken necessary steps and faced external hindrances beyond its control. It concluded that exercising the discretionary power under section 433 of the Companies Act, 1956, was not warranted, and the petition was dismissed with no order as to costs. Case-Laws Companies Law Thu, 05 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101378