https://www.taxtmi.com/caselaws?id=103483 Rule 7 of the Companies (Court) Rules, 1959 empowers a company court to extend or abridge time fixed by court order even after the stipulated period has expired. In company proceedings, the court may adopt a broader equitable approach rather than a narrow creditor-debtor view, and may consider the likely consequences of an immediate winding-up order. Although default and delay in seeking relief are adverse factors, the court may still grant further time for compliance with consent terms and keep winding-up proceedings in abeyance on safeguards protecting the petitioners' interests. en-us Mon, 27 Sep 1993 00:00:00 +0530 Thu, 23 Feb 2012 11:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103483 Rule 7 of the Companies (Court) Rules, 1959 empowers a company court to extend or abridge time fixed by court order even after the stipulated period has expired. In company proceedings, the court may adopt a broader equitable approach rather than a narrow creditor-debtor view, and may consider the likely consequences of an immediate winding-up order. Although default and delay in seeking relief are adverse factors, the court may still grant further time for compliance with consent terms and keep winding-up proceedings in abeyance on safeguards protecting the petitioners' interests. Case-Laws Companies Law Mon, 27 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103483