https://www.taxtmi.com/caselaws?id=213341 The court dismissed the petition for voluntary winding up under section 433(a) read with section 439 of the Companies Act, 1956. The court found that the petitioner's motive was to avoid an impending arbitration award and did not disclose a counter-claim against the opposing party. It concluded that the company still had the possibility of revival based on the ongoing arbitration proceedings, rejecting the argument that the substratum had disappeared. As no justifiable ground for winding up was established, the court dismissed the petition and application, with no order as to costs. en-us Mon, 04 Jul 2011 00:00:00 +0530 Thu, 07 Feb 2013 19:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213341 The court dismissed the petition for voluntary winding up under section 433(a) read with section 439 of the Companies Act, 1956. The court found that the petitioner's motive was to avoid an impending arbitration award and did not disclose a counter-claim against the opposing party. It concluded that the company still had the possibility of revival based on the ongoing arbitration proceedings, rejecting the argument that the substratum had disappeared. As no justifiable ground for winding up was established, the court dismissed the petition and application, with no order as to costs. Case-Laws Companies Law Mon, 04 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213341