https://www.taxtmi.com/caselaws?id=105049 A rehabilitation scheme for a sick company cannot rely on deemed consent where the State has consistently to finance revival and the scheme itself depends on such funding. Alleged surplus assets justify revival only if they are genuinely available, unencumbered, and sufficient to restore viability; encumbered or uncertain assets do not support feasibility. Procedural omissions such as non-publication of a draft scheme or absence of a separate early order on practicability do not vitiate the winding-up opinion where no workable, funded scheme emerges. Workmen's dues remain protected claims and may be directed to be paid with statutory priority during winding up. en-us Wed, 08 Dec 1999 00:00:00 +0530 Fri, 02 Mar 2012 12:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105049 A rehabilitation scheme for a sick company cannot rely on deemed consent where the State has consistently to finance revival and the scheme itself depends on such funding. Alleged surplus assets justify revival only if they are genuinely available, unencumbered, and sufficient to restore viability; encumbered or uncertain assets do not support feasibility. Procedural omissions such as non-publication of a draft scheme or absence of a separate early order on practicability do not vitiate the winding-up opinion where no workable, funded scheme emerges. Workmen's dues remain protected claims and may be directed to be paid with statutory priority during winding up. Case-Laws Companies Law Wed, 08 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105049