https://www.taxtmi.com/caselaws?id=110521 A proposed revival scheme for a company was found inconsistent with the statutory framework and not a credible rehabilitation package on the facts. The court noted that the scheme had remained unimplemented for years, lacked support from secured creditors and workmen, and depended largely on sale of company assets without fresh resources. Accepting the BIFR view, as confirmed on appeal, the court treated winding up as the appropriate course in the public interest and declined to sanction revival. en-us Thu, 12 Aug 2004 00:00:00 +0530 Tue, 17 Apr 2012 12:41:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110521 A proposed revival scheme for a company was found inconsistent with the statutory framework and not a credible rehabilitation package on the facts. The court noted that the scheme had remained unimplemented for years, lacked support from secured creditors and workmen, and depended largely on sale of company assets without fresh resources. Accepting the BIFR view, as confirmed on appeal, the court treated winding up as the appropriate course in the public interest and declined to sanction revival. Case-Laws Companies Law Thu, 12 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110521