https://www.taxtmi.com/caselaws?id=111985 An opinion forwarded by the Board for Industrial and Financial Reconstruction under section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 is relevant and weighty, but it does not bind the Company Judge mechanically. The High Court must independently examine whether winding up is justified and then follow the ordinary winding-up procedure under the Companies (Court) Rules, 1959, including admission, notice, advertisement and further hearing as required. Winding up cannot be ordered straightaway merely on receipt of the Board's opinion, and the parties must have an opportunity to be heard at the relevant stage. en-us Wed, 14 Nov 2007 00:00:00 +0530 Fri, 19 Dec 2014 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111985 An opinion forwarded by the Board for Industrial and Financial Reconstruction under section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 is relevant and weighty, but it does not bind the Company Judge mechanically. The High Court must independently examine whether winding up is justified and then follow the ordinary winding-up procedure under the Companies (Court) Rules, 1959, including admission, notice, advertisement and further hearing as required. Winding up cannot be ordered straightaway merely on receipt of the Board's opinion, and the parties must have an opportunity to be heard at the relevant stage. Case-Laws Companies Law Wed, 14 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111985