https://www.taxtmi.com/caselaws?id=306417 The National Company Law Tribunal dismissed a winding up petition against a company due to lack of proper representation and opportunity to be heard, imposing a notional cost on the Department. The Central Government's sanction for winding up proceedings based on money laundering allegations and non-compliance with the Companies Act was deemed invalid as it lacked specific details and fair opportunity for the company to respond. The Tribunal emphasized the necessity of providing companies with a reasonable chance to represent before initiating winding up proceedings, leading to the appeal's dismissal. en-us Wed, 04 Dec 2019 00:00:00 +0530 Mon, 30 Jan 2023 09:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306417 The National Company Law Tribunal dismissed a winding up petition against a company due to lack of proper representation and opportunity to be heard, imposing a notional cost on the Department. The Central Government's sanction for winding up proceedings based on money laundering allegations and non-compliance with the Companies Act was deemed invalid as it lacked specific details and fair opportunity for the company to respond. The Tribunal emphasized the necessity of providing companies with a reasonable chance to represent before initiating winding up proceedings, leading to the appeal's dismissal. Case-Laws Companies Law Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306417