https://www.taxtmi.com/caselaws?id=294993 A provisional liquidator in winding-up proceedings is a drastic measure and cannot be appointed mechanically at the time of admitting the petition unless the statutory stage is satisfied and the company has been given notice with a reasonable opportunity to respond. Dispensation of notice is permissible only for special reasons recorded in writing. As no notice was issued, no reasons were recorded for dispensing with notice, and no independent basis supported the appointment, the order appointing the provisional liquidator was unsustainable and was set aside. The admission of the winding-up petition itself remained undisturbed. en-us Tue, 24 Apr 2018 00:00:00 +0530 Fri, 14 May 2021 08:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294993 A provisional liquidator in winding-up proceedings is a drastic measure and cannot be appointed mechanically at the time of admitting the petition unless the statutory stage is satisfied and the company has been given notice with a reasonable opportunity to respond. Dispensation of notice is permissible only for special reasons recorded in writing. As no notice was issued, no reasons were recorded for dispensing with notice, and no independent basis supported the appointment, the order appointing the provisional liquidator was unsustainable and was set aside. The admission of the winding-up petition itself remained undisturbed. Case-Laws Companies Law Tue, 24 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294993