https://www.taxtmi.com/caselaws?id=459894 The HC admitted the winding-up petition for Etisalat DB Telecom Pvt. Ltd., determining that the company had lost its substratum following the SC's quashing of its 2G licenses, rendering it unable to continue its principal business. The court found a deadlock and irretrievable breakdown in relations between the principal shareholders, justifying the winding-up. Allegations of improper motives and mismanagement by the petitioner were dismissed due to lack of evidence. The petition was deemed maintainable under Section 433(e) of the Companies Act, despite the absence of a statutory notice, due to the company's evident insolvency. en-us Mon, 18 Nov 2013 00:00:00 +0530 Thu, 02 Jan 2025 15:05:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459894 The HC admitted the winding-up petition for Etisalat DB Telecom Pvt. Ltd., determining that the company had lost its substratum following the SC's quashing of its 2G licenses, rendering it unable to continue its principal business. The court found a deadlock and irretrievable breakdown in relations between the principal shareholders, justifying the winding-up. Allegations of improper motives and mismanagement by the petitioner were dismissed due to lack of evidence. The petition was deemed maintainable under Section 433(e) of the Companies Act, despite the absence of a statutory notice, due to the company's evident insolvency. Case-Laws Companies Law Mon, 18 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459894