https://www.taxtmi.com/caselaws?id=105154 Winding up under section 433 of the Companies Act, 1956 is a discretionary remedy and not a matter of right. The High Court held that concealment of material facts, including the respondent's reply to the statutory notice and part-payment made towards the claim, justified refusal to exercise that discretion. The petitioner had not amended its pleading even after the reply affidavit was filed, nor corrected the suppressed position. On that basis, refusal to admit the winding up petition was upheld. en-us Thu, 11 Feb 1999 00:00:00 +0530 Fri, 02 Mar 2012 17:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105154 Winding up under section 433 of the Companies Act, 1956 is a discretionary remedy and not a matter of right. The High Court held that concealment of material facts, including the respondent's reply to the statutory notice and part-payment made towards the claim, justified refusal to exercise that discretion. The petitioner had not amended its pleading even after the reply affidavit was filed, nor corrected the suppressed position. On that basis, refusal to admit the winding up petition was upheld. Case-Laws Companies Law Thu, 11 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105154