https://www.taxtmi.com/caselaws?id=104073 A company was held liable to be wound up where its business had come to a standstill and had not been carried on for more than one year under section 433(c) of the Companies Act, 1956. The court found that cessation of operations, inability to conduct business satisfactorily, and failure to repay liabilities were sufficient to establish the statutory ground for winding up. Objections raised by financial institutions did not defeat the application. The winding-up petition was allowed, liquidation was ordered, and directions were issued to protect the interests of the financial institutions and investigate alleged misuse of company assets. en-us Mon, 25 Jan 1999 00:00:00 +0530 Mon, 27 Feb 2012 15:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104073 A company was held liable to be wound up where its business had come to a standstill and had not been carried on for more than one year under section 433(c) of the Companies Act, 1956. The court found that cessation of operations, inability to conduct business satisfactorily, and failure to repay liabilities were sufficient to establish the statutory ground for winding up. Objections raised by financial institutions did not defeat the application. The winding-up petition was allowed, liquidation was ordered, and directions were issued to protect the interests of the financial institutions and investigate alleged misuse of company assets. Case-Laws Companies Law Mon, 25 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104073