https://www.taxtmi.com/caselaws?id=459345 The HC dismissed the appeal, affirming the decision to reject the application for convening a meeting under Section 391 of the Companies Act, 1956. The court concluded that the revival proposal lacked credibility and was not in the stakeholders' best interest, particularly the workers. The proposal seemed motivated by the appellants' interest in appreciating land value rather than a genuine intent to revive the company. The court prioritized settling the company's liabilities, including workers' dues, over speculative revival plans. en-us Tue, 18 Sep 2012 00:00:00 +0530 Tue, 10 Dec 2024 19:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459345 The HC dismissed the appeal, affirming the decision to reject the application for convening a meeting under Section 391 of the Companies Act, 1956. The court concluded that the revival proposal lacked credibility and was not in the stakeholders' best interest, particularly the workers. The proposal seemed motivated by the appellants' interest in appreciating land value rather than a genuine intent to revive the company. The court prioritized settling the company's liabilities, including workers' dues, over speculative revival plans. Case-Laws Companies Law Tue, 18 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459345