https://www.taxtmi.com/caselaws?id=108206 The court allowed both winding up petitions against the respondent company, finding it incapable of paying debts. The court prioritized employee claims, appointed the Official Liquidator to take over assets, and ordered winding up to protect interests and adjudicate claims properly. The court held that parallel proceedings at the Debt Recovery Tribunal did not bar the winding up process, as the grounds for winding up were distinct from debt recovery proceedings. en-us Thu, 22 May 2003 00:00:00 +0530 Tue, 17 Apr 2012 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108206 The court allowed both winding up petitions against the respondent company, finding it incapable of paying debts. The court prioritized employee claims, appointed the Official Liquidator to take over assets, and ordered winding up to protect interests and adjudicate claims properly. The court held that parallel proceedings at the Debt Recovery Tribunal did not bar the winding up process, as the grounds for winding up were distinct from debt recovery proceedings. Case-Laws Companies Law Thu, 22 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108206