https://www.taxtmi.com/caselaws?id=101729 The court ordered the winding up of the company based on the admitted debt of Rs. 33,49,262.58, as the company had resolved to close down its operations and no other creditors opposed the winding up. Despite objections by workmen regarding the company's viability, citing mismanagement and lack of professional expertise, the court found the company's substantial losses and liabilities made revival without government aid unfeasible. The court ruled that the Sick Industrial Companies Act did not apply to unregistered companies and dismissed the request for an investigation into the company's affairs, ultimately directing the winding up of the company. en-us Thu, 10 Sep 1987 00:00:00 +0530 Fri, 10 Feb 2012 18:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101729 The court ordered the winding up of the company based on the admitted debt of Rs. 33,49,262.58, as the company had resolved to close down its operations and no other creditors opposed the winding up. Despite objections by workmen regarding the company's viability, citing mismanagement and lack of professional expertise, the court found the company's substantial losses and liabilities made revival without government aid unfeasible. The court ruled that the Sick Industrial Companies Act did not apply to unregistered companies and dismissed the request for an investigation into the company's affairs, ultimately directing the winding up of the company. Case-Laws Companies Law Thu, 10 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101729