https://www.taxtmi.com/caselaws?id=105227 A winding-up petition based on a Board opinion under section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 cannot be treated as a mere formality. The Company Court must independently assess the Board's opinion and still comply with the mandatory procedural safeguards in Rules 96, 99 and 24 of the Companies (Court) Rules, 1959. Admission of the petition and advertisement of notice are required so interested persons can appear and be heard before final orders are made. The Court cannot bypass these steps or act mechanically on the Board's opinion. en-us Mon, 19 Jul 1999 00:00:00 +0530 Sat, 03 Mar 2012 11:37:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105227 A winding-up petition based on a Board opinion under section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 cannot be treated as a mere formality. The Company Court must independently assess the Board's opinion and still comply with the mandatory procedural safeguards in Rules 96, 99 and 24 of the Companies (Court) Rules, 1959. Admission of the petition and advertisement of notice are required so interested persons can appear and be heard before final orders are made. The Court cannot bypass these steps or act mechanically on the Board's opinion. Case-Laws Companies Law Mon, 19 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105227