https://www.taxtmi.com/caselaws?id=105246 An opinion from BIFR/AAIFR under the sick industrial companies framework does not by itself authorise immediate winding up. The High Court must still follow the statutory winding-up stages, including admission, advertisement, notice to interested parties, and hearing, before the petition becomes representative in character. The opinion may be relevant and carry weight, but it is not conclusive and does not displace the court's independent duty to decide whether winding up is justified on the facts and in law. A winding-up order passed without that procedure and independent assessment is unsustainable. en-us Mon, 09 Aug 1999 00:00:00 +0530 Sat, 03 Mar 2012 13:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105246 An opinion from BIFR/AAIFR under the sick industrial companies framework does not by itself authorise immediate winding up. The High Court must still follow the statutory winding-up stages, including admission, advertisement, notice to interested parties, and hearing, before the petition becomes representative in character. The opinion may be relevant and carry weight, but it is not conclusive and does not displace the court's independent duty to decide whether winding up is justified on the facts and in law. A winding-up order passed without that procedure and independent assessment is unsustainable. Case-Laws Companies Law Mon, 09 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105246