https://www.taxtmi.com/caselaws?id=197580 Secured creditors are entitled to intervene and be heard at the stage of admission of a winding-up petition. Section 557 of the Companies Act, 1956 allows the Court to consider the wishes of creditors in all matters relating to winding up, and that expression is broad enough to cover admission of the petition. Because admission can seriously affect the company's market standing and business confidence, the same principle that permits workers to be heard before admission and advertisement applies equally to creditors. The absence of a specific rule permitting opposition does not exclude that hearing right where the statute requires creditor wishes to be considered. en-us Fri, 28 Nov 2003 00:00:00 +0530 Wed, 10 Jan 2018 12:51:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197580 Secured creditors are entitled to intervene and be heard at the stage of admission of a winding-up petition. Section 557 of the Companies Act, 1956 allows the Court to consider the wishes of creditors in all matters relating to winding up, and that expression is broad enough to cover admission of the petition. Because admission can seriously affect the company's market standing and business confidence, the same principle that permits workers to be heard before admission and advertisement applies equally to creditors. The absence of a specific rule permitting opposition does not exclude that hearing right where the statute requires creditor wishes to be considered. Case-Laws Companies Law Fri, 28 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197580