https://www.taxtmi.com/caselaws?id=111989 In winding-up proceedings, if a compromise petition is placed before the Court, it must either be accepted and incorporated into the final order or rejected for valid reasons before the petition is decided on merits. The Court held that this procedural requirement was not followed, as the winding-up petition was dismissed without first dealing with the compromise. The larger question whether winding up was otherwise justified was not examined. The dismissal was therefore set aside and the matter remitted for fresh consideration in accordance with law, after addressing the compromise petition. en-us Thu, 15 Nov 2007 00:00:00 +0530 Fri, 19 Dec 2014 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111989 In winding-up proceedings, if a compromise petition is placed before the Court, it must either be accepted and incorporated into the final order or rejected for valid reasons before the petition is decided on merits. The Court held that this procedural requirement was not followed, as the winding-up petition was dismissed without first dealing with the compromise. The larger question whether winding up was otherwise justified was not examined. The dismissal was therefore set aside and the matter remitted for fresh consideration in accordance with law, after addressing the compromise petition. Case-Laws Companies Law Thu, 15 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111989