https://www.taxtmi.com/caselaws?id=459218 A company may be wound up where business has remained suspended for more than a year, statutory returns and accounts have not been filed for several years, and continuing disputes between the only active stakeholders have paralysed management. The Delhi High Court noted that a small shareholding base, a partnership-like working structure, deadlock between factions, mounting debts, and inability to carry on business showed that the company's substratum had disappeared and that winding up was just and equitable. The grounds under section 433(c), section 433(f) and section 433(g) of the Companies Act, 1956 were held to be made out, and the winding-up petition was admitted. en-us Fri, 26 Jul 2013 00:00:00 +0530 Thu, 05 Dec 2024 15:22:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459218 A company may be wound up where business has remained suspended for more than a year, statutory returns and accounts have not been filed for several years, and continuing disputes between the only active stakeholders have paralysed management. The Delhi High Court noted that a small shareholding base, a partnership-like working structure, deadlock between factions, mounting debts, and inability to carry on business showed that the company's substratum had disappeared and that winding up was just and equitable. The grounds under section 433(c), section 433(f) and section 433(g) of the Companies Act, 1956 were held to be made out, and the winding-up petition was admitted. Case-Laws Companies Law Fri, 26 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459218