https://www.taxtmi.com/caselaws?id=109285 Stand members who are not recognised as company members under the Articles of Association lack standing to seek winding up. Where the articles reserve statutory membership and voting rights for club members, stand members who accepted their non-voting status cannot challenge the arrangement as inequitable. The just and equitable winding-up ground requires judicious, exceptional application and is not available merely because non-voting members allege unfairness in terms they accepted. An order admitting a winding-up petition may be appealed because admission has serious civil consequences. Articles distinguishing membership classes and voting rights may validly include matters consistent with the Companies Act. en-us Thu, 05 Aug 2004 00:00:00 +0530 Sat, 07 Apr 2012 13:29:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109285 Stand members who are not recognised as company members under the Articles of Association lack standing to seek winding up. Where the articles reserve statutory membership and voting rights for club members, stand members who accepted their non-voting status cannot challenge the arrangement as inequitable. The just and equitable winding-up ground requires judicious, exceptional application and is not available merely because non-voting members allege unfairness in terms they accepted. An order admitting a winding-up petition may be appealed because admission has serious civil consequences. Articles distinguishing membership classes and voting rights may validly include matters consistent with the Companies Act. Case-Laws Companies Law Thu, 05 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109285