https://www.taxtmi.com/caselaws?id=189563 The court allowed the appeals against the implementation of the scheme and ordered the winding up of the company under section 392(2) of the Companies Act. The court found that the company was commercially insolvent, its substratum was gone, and the scheme could not be worked satisfactorily with or without modifications. The company was ordered to be wound up, and the liquidator was directed to act on the minutes. en-us Fri, 26 Apr 1968 00:00:00 +0530 Thu, 12 Jan 2017 18:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189563 The court allowed the appeals against the implementation of the scheme and ordered the winding up of the company under section 392(2) of the Companies Act. The court found that the company was commercially insolvent, its substratum was gone, and the scheme could not be worked satisfactorily with or without modifications. The company was ordered to be wound up, and the liquidator was directed to act on the minutes. Case-Laws Companies Law Fri, 26 Apr 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189563