https://www.taxtmi.com/caselaws?id=101890 The court granted the petition for winding up the opposite party company under section 439 of the Companies Act, 1956. It found in favor of the petitioners regarding the advances and non-payment by the opposite party, concluding that the company was unable to repay the debts. Citing just and equitable grounds under section 433(f) of the Act, the court ordered the winding up of the company but granted a one-year stay for repayment. No costs were awarded due to the absence of the opposite party during the proceedings. en-us Mon, 03 Apr 1989 00:00:00 +0530 Mon, 13 Feb 2012 10:33:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101890 The court granted the petition for winding up the opposite party company under section 439 of the Companies Act, 1956. It found in favor of the petitioners regarding the advances and non-payment by the opposite party, concluding that the company was unable to repay the debts. Citing just and equitable grounds under section 433(f) of the Act, the court ordered the winding up of the company but granted a one-year stay for repayment. No costs were awarded due to the absence of the opposite party during the proceedings. Case-Laws Companies Law Mon, 03 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101890