https://www.taxtmi.com/caselaws?id=104305 A petition for winding up on the just and equitable ground was rejected because the alleged deadlock was only theoretical and the company was still functioning, with circular resolutions available and no proved breach of the articles in current operations. The Court treated the grievance as one of exclusion from management and oppression, for which the Companies Act provided specific remedies under sections 397 and 402. Applying section 443(2), it held that where an adequate statutory alternative exists and the petitioners act unreasonably in seeking winding up instead, the winding-up jurisdiction should be refused. en-us Fri, 31 Jul 1998 00:00:00 +0530 Tue, 28 Feb 2012 16:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104305 A petition for winding up on the just and equitable ground was rejected because the alleged deadlock was only theoretical and the company was still functioning, with circular resolutions available and no proved breach of the articles in current operations. The Court treated the grievance as one of exclusion from management and oppression, for which the Companies Act provided specific remedies under sections 397 and 402. Applying section 443(2), it held that where an adequate statutory alternative exists and the petitioners act unreasonably in seeking winding up instead, the winding-up jurisdiction should be refused. Case-Laws Companies Law Fri, 31 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104305