https://www.taxtmi.com/caselaws?id=459307 The HC ordered the winding up of "Mynet Internet Services Ltd." under Sections 433 and 434 of the Companies Act, 1956, due to the respondent-Company's failure to pay the petitioner's agreed salary and its commercial insolvency. The Court appointed an Official Liquidator to manage the company's assets and oversee the winding-up process, following the respondent-Company's admission of the petitioner's dues and lack of adequate response to statutory notices. The decision was based on the company's non-responsiveness and lack of commercial viability, justifying the winding-up order. en-us Thu, 19 Dec 2013 00:00:00 +0530 Mon, 09 Dec 2024 11:18:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459307 The HC ordered the winding up of "Mynet Internet Services Ltd." under Sections 433 and 434 of the Companies Act, 1956, due to the respondent-Company's failure to pay the petitioner's agreed salary and its commercial insolvency. The Court appointed an Official Liquidator to manage the company's assets and oversee the winding-up process, following the respondent-Company's admission of the petitioner's dues and lack of adequate response to statutory notices. The decision was based on the company's non-responsiveness and lack of commercial viability, justifying the winding-up order. Case-Laws Companies Law Thu, 19 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459307