https://www.taxtmi.com/caselaws?id=106566 A company was wound up after the Board for Industrial and Financial Reconstruction declared it sick, found its net worth could not be restored to positive, and opined that winding up would be just and in the public interest under section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985. The Court noted that no effective objection was filed and the company had not been represented before the Board. On that basis, the Court directed winding up and appointed the Official Liquidator to take possession of the company's assets and affairs. en-us Wed, 12 Dec 2001 00:00:00 +0530 Wed, 14 Mar 2012 17:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106566 A company was wound up after the Board for Industrial and Financial Reconstruction declared it sick, found its net worth could not be restored to positive, and opined that winding up would be just and in the public interest under section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985. The Court noted that no effective objection was filed and the company had not been represented before the Board. On that basis, the Court directed winding up and appointed the Official Liquidator to take possession of the company's assets and affairs. Case-Laws Companies Law Wed, 12 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106566