https://www.taxtmi.com/caselaws?id=109512 Secured creditors have the right to be heard at the admission stage of a Company Petition for winding up, as per section 557 of the Companies Act, 1956. The Delhi HC's decision, which denied creditors this right, was overturned. The applications for intervention by creditors, including a consortium of banks, were granted, allowing their participation at the admission stage. The SC precedent underscores the necessity of considering creditors' interests throughout the winding up process. en-us Fri, 28 Nov 2003 00:00:00 +0530 Mon, 01 Jul 2024 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109512 Secured creditors have the right to be heard at the admission stage of a Company Petition for winding up, as per section 557 of the Companies Act, 1956. The Delhi HC's decision, which denied creditors this right, was overturned. The applications for intervention by creditors, including a consortium of banks, were granted, allowing their participation at the admission stage. The SC precedent underscores the necessity of considering creditors' interests throughout the winding up process. Case-Laws Companies Law Fri, 28 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109512