https://www.taxtmi.com/caselaws?id=108102 Once a winding up order is made, the petition is treated as proceeding for the benefit of all creditors and contributories under section 447 of the Companies Act, 1956. On that basis, the petition no longer remains an individual proceeding that the original petitioner can withdraw unilaterally. The earlier order permitting withdrawal was held to be without jurisdiction because consent of all creditors and contributories was required in that changed procedural setting. The order allowing withdrawal was recalled and the request to withdraw the winding up petition was dismissed. en-us Wed, 15 Dec 1999 00:00:00 +0530 Wed, 28 Mar 2012 17:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108102 Once a winding up order is made, the petition is treated as proceeding for the benefit of all creditors and contributories under section 447 of the Companies Act, 1956. On that basis, the petition no longer remains an individual proceeding that the original petitioner can withdraw unilaterally. The earlier order permitting withdrawal was held to be without jurisdiction because consent of all creditors and contributories was required in that changed procedural setting. The order allowing withdrawal was recalled and the request to withdraw the winding up petition was dismissed. Case-Laws Companies Law Wed, 15 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108102