https://www.taxtmi.com/caselaws?id=106568 Where the statutory authority's opinion under section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 shows that revival of a sick industrial company is no longer feasible, and no objection or alternative proposal is placed before the Court, the Court may accept that opinion and order winding up. Consequent to the winding-up order, the Official Liquidator is appointed to take possession of the company's assets and books of account, and the person in possession must hand them over in consultation with the Official Liquidator. en-us Wed, 12 Dec 2001 00:00:00 +0530 Wed, 14 Mar 2012 17:31:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106568 Where the statutory authority's opinion under section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 shows that revival of a sick industrial company is no longer feasible, and no objection or alternative proposal is placed before the Court, the Court may accept that opinion and order winding up. Consequent to the winding-up order, the Official Liquidator is appointed to take possession of the company's assets and books of account, and the person in possession must hand them over in consultation with the Official Liquidator. Case-Laws Companies Law Wed, 12 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106568