https://www.taxtmi.com/caselaws?id=101998 Where a company's substratum has disappeared and its only business has become impossible to carry on, winding up may be ordered as just and equitable. The analysis notes that the company had ceased business, sold its machinery, lost its leasehold premises, and retained no realisable assets or business organisation; the provisional liquidator also reported that winding up would serve no useful purpose unless the court exercised its discretion on the basis that the company was no longer a going concern. The company was ordered to be wound up and the provisional liquidator was appointed liquidator. en-us Wed, 24 Oct 1990 00:00:00 +0530 Mon, 13 Feb 2012 13:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101998 Where a company's substratum has disappeared and its only business has become impossible to carry on, winding up may be ordered as just and equitable. The analysis notes that the company had ceased business, sold its machinery, lost its leasehold premises, and retained no realisable assets or business organisation; the provisional liquidator also reported that winding up would serve no useful purpose unless the court exercised its discretion on the basis that the company was no longer a going concern. The company was ordered to be wound up and the provisional liquidator was appointed liquidator. Case-Laws Companies Law Wed, 24 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101998