https://www.taxtmi.com/caselaws?id=289073 Sections governing compromise or arrangement in winding-up proceedings applied to an unregistered company once winding-up proceedings had been initiated, even though no formal winding-up order had yet been made. The court read the winding-up machinery and its ancillary powers as extending to that stage, relying on the corresponding English interpretation adopted in substantially similar statutory language. On that construction, the compromise application was competent. The proposed scheme was then amended to protect excluded creditors and the interests of creditors generally, and the amended scheme was sanctioned. en-us Tue, 06 Apr 1948 00:00:00 +0530 Mon, 13 Jul 2020 11:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289073 Sections governing compromise or arrangement in winding-up proceedings applied to an unregistered company once winding-up proceedings had been initiated, even though no formal winding-up order had yet been made. The court read the winding-up machinery and its ancillary powers as extending to that stage, relying on the corresponding English interpretation adopted in substantially similar statutory language. On that construction, the compromise application was competent. The proposed scheme was then amended to protect excluded creditors and the interests of creditors generally, and the amended scheme was sanctioned. Case-Laws Companies Law Tue, 06 Apr 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289073