https://www.taxtmi.com/caselaws?id=392957 The court granted the petition for winding up Umiya Ceramic Pvt. Ltd. under Sections 433 and 434 of the Companies Act, 1956, appointing an Official Liquidator and restraining the respondent from alienating assets. Despite a settlement agreement, the respondent breached the undertaking by dishonoring cheques, leading to the revival of the petition and the appointment of a Provisional Liquidator to oversee the company's assets. The court emphasized the respondent's failure to fulfill financial obligations, resulting in stringent measures to enforce compliance with the law and safeguard the petitioner's rights. en-us Wed, 26 Feb 2020 00:00:00 +0530 Tue, 03 Mar 2020 11:30:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392957 The court granted the petition for winding up Umiya Ceramic Pvt. Ltd. under Sections 433 and 434 of the Companies Act, 1956, appointing an Official Liquidator and restraining the respondent from alienating assets. Despite a settlement agreement, the respondent breached the undertaking by dishonoring cheques, leading to the revival of the petition and the appointment of a Provisional Liquidator to oversee the company's assets. The court emphasized the respondent's failure to fulfill financial obligations, resulting in stringent measures to enforce compliance with the law and safeguard the petitioner's rights. Case-Laws Companies Law Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392957