https://www.taxtmi.com/caselaws?id=110161 A winding-up recommendation was accepted because the company had long ceased business, its plant and machinery had been sold, and the admitted creditor's claim remained unpaid, showing inability to pay debts. After the winding-up order, sale of immovable assets had to remain under the control of the Official Liquidator and the Company Court, with confirmation of sale required to protect creditors and contributories. The High Power Committee could not act independently; it was permitted only to assist the Official Liquidator in ministerial steps under the Court's supervision. The company was directed to be wound up and the remaining assets were to be sold accordingly. en-us Mon, 05 Sep 2005 00:00:00 +0530 Sat, 14 Apr 2012 10:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110161 A winding-up recommendation was accepted because the company had long ceased business, its plant and machinery had been sold, and the admitted creditor's claim remained unpaid, showing inability to pay debts. After the winding-up order, sale of immovable assets had to remain under the control of the Official Liquidator and the Company Court, with confirmation of sale required to protect creditors and contributories. The High Power Committee could not act independently; it was permitted only to assist the Official Liquidator in ministerial steps under the Court's supervision. The company was directed to be wound up and the remaining assets were to be sold accordingly. Case-Laws Companies Law Mon, 05 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110161