https://www.taxtmi.com/caselaws?id=105390 The SC upheld the Division Bench's refusal to wind up the company under s.397, rejecting the petition. The court found no established mismanagement or prejudice to the company - the disputed commission entry did not cause loss and termination of the director was contested and insufficient alone to justify winding up on just and equitable grounds. The proper remedy for alleged wrongful termination is a company suit, not winding up, so there was no basis to interfere with the impugned order. en-us Tue, 27 Mar 2001 00:00:00 +0530 Sat, 04 Oct 2025 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105390 The SC upheld the Division Bench's refusal to wind up the company under s.397, rejecting the petition. The court found no established mismanagement or prejudice to the company - the disputed commission entry did not cause loss and termination of the director was contested and insufficient alone to justify winding up on just and equitable grounds. The proper remedy for alleged wrongful termination is a company suit, not winding up, so there was no basis to interfere with the impugned order. Case-Laws Companies Law Tue, 27 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105390