https://www.taxtmi.com/caselaws?id=101517 At the admission stage of a contributory's winding-up petition, the court must first find prima facie grounds before directing advertisement, because publication can materially affect the company's business and reputation. A winding-up petition remains a last resort, and the court must weigh the interests of the company, shareholders, and the wider consequences. The availability of alternative remedies for oppression, mismanagement, or removal of directors is relevant but not conclusive. On the stated facts, non-commencement of business, cost escalation, failure to secure finance, audit irregularities, and no realistic prospect of revival supported admission, and the petition was properly advertised. en-us Thu, 30 Jul 1987 00:00:00 +0530 Fri, 10 Feb 2012 10:36:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101517 At the admission stage of a contributory's winding-up petition, the court must first find prima facie grounds before directing advertisement, because publication can materially affect the company's business and reputation. A winding-up petition remains a last resort, and the court must weigh the interests of the company, shareholders, and the wider consequences. The availability of alternative remedies for oppression, mismanagement, or removal of directors is relevant but not conclusive. On the stated facts, non-commencement of business, cost escalation, failure to secure finance, audit irregularities, and no realistic prospect of revival supported admission, and the petition was properly advertised. Case-Laws Companies Law Thu, 30 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101517