https://www.taxtmi.com/caselaws?id=103162 A joint winding-up petition by multiple creditors is treated as a class-interest proceeding founded on the company's commercial insolvency, not as separate individual causes of action for each creditor. Because the Companies Act permits a creditor or creditors to present such a petition and the winding-up relief operates for the benefit of all creditors and contributories, the relevant cause of action remains the same commercial inability to pay debts. On that basis, the objection that each creditor must pay separate court-fee is not accepted, and a single court-fee is payable on the joint company petition. en-us Thu, 10 Dec 1992 00:00:00 +0530 Tue, 21 Feb 2012 11:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103162 A joint winding-up petition by multiple creditors is treated as a class-interest proceeding founded on the company's commercial insolvency, not as separate individual causes of action for each creditor. Because the Companies Act permits a creditor or creditors to present such a petition and the winding-up relief operates for the benefit of all creditors and contributories, the relevant cause of action remains the same commercial inability to pay debts. On that basis, the objection that each creditor must pay separate court-fee is not accepted, and a single court-fee is payable on the joint company petition. Case-Laws Companies Law Thu, 10 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103162