https://www.taxtmi.com/caselaws?id=301837 The Court dismissed the company petition for winding up the respondent company as the contract between the parties was found to be illegal under Section 297 of the Companies Act, 1956, due to lack of required consents. The Court held that a debt stemming from an illegal contract is not legally recoverable, rendering the winding-up claim invalid. The absence of necessary approvals from the Central Government for the contract involving a company with a paid-up share capital over Rupees One Crore led to the dismissal of the petition. en-us Mon, 28 Jan 2013 00:00:00 +0530 Fri, 22 Apr 2022 17:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301837 The Court dismissed the company petition for winding up the respondent company as the contract between the parties was found to be illegal under Section 297 of the Companies Act, 1956, due to lack of required consents. The Court held that a debt stemming from an illegal contract is not legally recoverable, rendering the winding-up claim invalid. The absence of necessary approvals from the Central Government for the contract involving a company with a paid-up share capital over Rupees One Crore led to the dismissal of the petition. Case-Laws Companies Law Mon, 28 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301837