https://www.taxtmi.com/caselaws?id=197665 Where a company had ceased business, assets were sold in execution, liabilities increased and the leasehold was functionally valueless, the substratum of the company was held to be gone and the company commercially insolvent; applying the statutory discretion to wind up as just and equitable, a winding-up order was appropriate to enable public investigation and orderly winding up. A petition by a fully paid-up shareholder need not be dismissed for lack of alleged surplus where creditors support the petition or the petition is bona fide; absence of assets alone does not bar a winding-up order under the statutory rule. en-us Fri, 09 May 1952 00:00:00 +0530 Thu, 11 Jan 2018 18:01:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197665 Where a company had ceased business, assets were sold in execution, liabilities increased and the leasehold was functionally valueless, the substratum of the company was held to be gone and the company commercially insolvent; applying the statutory discretion to wind up as just and equitable, a winding-up order was appropriate to enable public investigation and orderly winding up. A petition by a fully paid-up shareholder need not be dismissed for lack of alleged surplus where creditors support the petition or the petition is bona fide; absence of assets alone does not bar a winding-up order under the statutory rule. Case-Laws Companies Law Fri, 09 May 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197665