https://www.taxtmi.com/caselaws?id=169490 The court admitted the winding-up petition filed by a trustee against the respondent company, finding the company commercially insolvent and the Corporate Debt Restructuring (CDR) scheme inadequate to address the petitioner's claims. The court held that the trustee had the authority to file the petition, rejecting challenges to the petitioner's locus standi. Additionally, the court found that the respondent's failure to redeem bonds and participate transparently in the CDR scheme supported the petition's claims of discrimination. The court directed the petition to be advertised and permitted the petitioner to seek the appointment of a provisional liquidator. en-us Fri, 11 Mar 2011 00:00:00 +0530 Fri, 04 Aug 2023 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169490 The court admitted the winding-up petition filed by a trustee against the respondent company, finding the company commercially insolvent and the Corporate Debt Restructuring (CDR) scheme inadequate to address the petitioner's claims. The court held that the trustee had the authority to file the petition, rejecting challenges to the petitioner's locus standi. Additionally, the court found that the respondent's failure to redeem bonds and participate transparently in the CDR scheme supported the petition's claims of discrimination. The court directed the petition to be advertised and permitted the petitioner to seek the appointment of a provisional liquidator. Case-Laws Companies Law Fri, 11 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169490