https://www.taxtmi.com/caselaws?id=381694 Section 10 insolvency applications depend on the corporate applicant's Articles of Association and the legal requirements applicable when the application is filed. Shareholder approval in an AGM or EoGM is necessary where the Articles specifically reserve liquidation or insolvency decisions to shareholders, including through an affirmative-vote requirement. Where the Articles empower the Board of Directors to decide on winding up without requiring a shareholder vote, a Board resolution can support the application. The analysis distinguishes Articles that mandate shareholder approval from those conferring independent authority on the Board and notes that later regulatory amendments do not alter requirements applicable at the filing date. en-us Tue, 14 May 2019 00:00:00 +0530 Tue, 18 Jun 2019 05:47:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381694 Section 10 insolvency applications depend on the corporate applicant's Articles of Association and the legal requirements applicable when the application is filed. Shareholder approval in an AGM or EoGM is necessary where the Articles specifically reserve liquidation or insolvency decisions to shareholders, including through an affirmative-vote requirement. Where the Articles empower the Board of Directors to decide on winding up without requiring a shareholder vote, a Board resolution can support the application. The analysis distinguishes Articles that mandate shareholder approval from those conferring independent authority on the Board and notes that later regulatory amendments do not alter requirements applicable at the filing date. Case-Laws Insolvency and Bankruptcy Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381694