https://www.taxtmi.com/caselaws?id=345114 The High Court of Karnataka allowed the recall of the winding up order dated 03.08.2004, with the condition that the company's remaining assets, particularly 119.665 acres of land, be utilized solely for public purposes such as infrastructure projects and afforestation. The Court prioritized public interest over the objections of a minority shareholder and emphasized the importance of transparency and public benefit in asset utilization. The State Government was directed to provide regular reports on the progress of public projects, with the Court retaining jurisdiction to ensure compliance. en-us Thu, 22 Jun 2017 00:00:00 +0530 Mon, 10 Jul 2017 10:41:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345114 The High Court of Karnataka allowed the recall of the winding up order dated 03.08.2004, with the condition that the company's remaining assets, particularly 119.665 acres of land, be utilized solely for public purposes such as infrastructure projects and afforestation. The Court prioritized public interest over the objections of a minority shareholder and emphasized the importance of transparency and public benefit in asset utilization. The State Government was directed to provide regular reports on the progress of public projects, with the Court retaining jurisdiction to ensure compliance. Case-Laws Companies Law Thu, 22 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345114