https://www.taxtmi.com/caselaws?id=216690 The appeal for the winding up of a company in liquidation and direction for land development by sixty appellants was dismissed. The Company Judge directed refund of amounts paid by appellants with interest instead of land allotment due to incomplete development work and high developmental costs. The Court found appellants' proposal impractical and suggested auctioning the land with commitments to appellants, requiring additional payments to maintain land value. The judgment stressed the need for a workable proposal from appellants to address concerns while protecting all parties' interests. Appeal dismissed with no costs awarded. en-us Tue, 11 Sep 2012 00:00:00 +0530 Thu, 13 Sep 2012 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216690 The appeal for the winding up of a company in liquidation and direction for land development by sixty appellants was dismissed. The Company Judge directed refund of amounts paid by appellants with interest instead of land allotment due to incomplete development work and high developmental costs. The Court found appellants' proposal impractical and suggested auctioning the land with commitments to appellants, requiring additional payments to maintain land value. The judgment stressed the need for a workable proposal from appellants to address concerns while protecting all parties' interests. Appeal dismissed with no costs awarded. Case-Laws Companies Law Tue, 11 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216690