https://www.taxtmi.com/caselaws?id=101778 The court clarified that in cases of winding up, both the liquidator and the company, creditors, and members have the right to propose a compromise or arrangement under Section 391 of the Companies Act, 1956. The judgment emphasized that the liquidator is an additional, not exclusive, person who can move the court under Section 391, rejecting the view that only the liquidator can make such an application. The court's decision aligned with previous case law and statutory provisions, ensuring that all relevant parties can participate in proposing schemes even after a winding-up order. en-us Thu, 09 Mar 1989 00:00:00 +0530 Sat, 11 Feb 2012 11:05:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101778 The court clarified that in cases of winding up, both the liquidator and the company, creditors, and members have the right to propose a compromise or arrangement under Section 391 of the Companies Act, 1956. The judgment emphasized that the liquidator is an additional, not exclusive, person who can move the court under Section 391, rejecting the view that only the liquidator can make such an application. The court's decision aligned with previous case law and statutory provisions, ensuring that all relevant parties can participate in proposing schemes even after a winding-up order. Case-Laws Companies Law Thu, 09 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101778