https://www.taxtmi.com/caselaws?id=108432 A company that failed to commence business after incorporation, with no fully subscribed or paid-up shares, no contribution to share capital, no board meeting, and no statutory returns filed, was found to fall within the winding-up ground under section 433(c) of the Companies Act, 1956. The court also noted that the promoters were responsible for the failure to start operations and that no useful purpose would be served by keeping the company alive on record, so winding up was directed. en-us Mon, 17 Feb 2003 00:00:00 +0530 Sat, 31 Mar 2012 15:02:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108432 A company that failed to commence business after incorporation, with no fully subscribed or paid-up shares, no contribution to share capital, no board meeting, and no statutory returns filed, was found to fall within the winding-up ground under section 433(c) of the Companies Act, 1956. The court also noted that the promoters were responsible for the failure to start operations and that no useful purpose would be served by keeping the company alive on record, so winding up was directed. Case-Laws Companies Law Mon, 17 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108432