https://www.taxtmi.com/caselaws?id=108535 Whether a winding up petition should be allowed turned on disputed factual issues; the HC held that contested disputes between directors about profitability and further capital calls were inappropriate for resolution in winding up proceedings and therefore should not support liquidation. The respondent produced a prima facie satisfactory response on commencement of business within the statutory period and ongoing efforts to obtain possession of the NOIDA plot, supported by a pending writ with interim protection. An inspection report was not treated as decisive. The respondent's undertaking to furnish accounts and respect shareholder and director rights led to dismissal of the petition. en-us Mon, 31 Mar 2003 00:00:00 +0530 Mon, 02 Apr 2012 11:46:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108535 Whether a winding up petition should be allowed turned on disputed factual issues; the HC held that contested disputes between directors about profitability and further capital calls were inappropriate for resolution in winding up proceedings and therefore should not support liquidation. The respondent produced a prima facie satisfactory response on commencement of business within the statutory period and ongoing efforts to obtain possession of the NOIDA plot, supported by a pending writ with interim protection. An inspection report was not treated as decisive. The respondent's undertaking to furnish accounts and respect shareholder and director rights led to dismissal of the petition. Case-Laws Companies Law Mon, 31 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108535