https://www.taxtmi.com/caselaws?id=106594 Repeated failure by a sick industrial company to place a viable rehabilitation proposal, despite several opportunities and a test deposit to show bona fides, supported the view that revival was not feasible. The Board and Appellate Authority relied on expert assessment that the company could not restore its net worth within a reasonable time while meeting its financial obligations, and that statutory procedure had been followed. In these circumstances, no error of law or fact was shown and writ interference was unwarranted. The finding that winding up was just, equitable and in the public interest was upheld. en-us Mon, 07 Jan 2002 00:00:00 +0530 Wed, 14 Mar 2012 18:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106594 Repeated failure by a sick industrial company to place a viable rehabilitation proposal, despite several opportunities and a test deposit to show bona fides, supported the view that revival was not feasible. The Board and Appellate Authority relied on expert assessment that the company could not restore its net worth within a reasonable time while meeting its financial obligations, and that statutory procedure had been followed. In these circumstances, no error of law or fact was shown and writ interference was unwarranted. The finding that winding up was just, equitable and in the public interest was upheld. Case-Laws Companies Law Mon, 07 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106594