https://www.taxtmi.com/caselaws?id=470956 Company winding-up principles supported admission of a petition where admitted investment and assured returns established a debt above the statutory threshold. Proposed adjustments for increased land costs and technology-related charges lacked contractual and documentary support. Applying ejusdem generis, the reference to taxes, charges and levies covered only charges similar to those specified and did not permit those adjustments. The absence of a functioning board, failure to comply with prior directions, and risk of asset dissipation warranted protective measures. The petition was admitted, and the Official Liquidator was appointed as provisional liquidator to secure and preserve assets, books and records. en-us Tue, 08 Mar 2016 00:00:00 +0530 Fri, 14 Aug 2026 17:10:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470956 Company winding-up principles supported admission of a petition where admitted investment and assured returns established a debt above the statutory threshold. Proposed adjustments for increased land costs and technology-related charges lacked contractual and documentary support. Applying ejusdem generis, the reference to taxes, charges and levies covered only charges similar to those specified and did not permit those adjustments. The absence of a functioning board, failure to comply with prior directions, and risk of asset dissipation warranted protective measures. The petition was admitted, and the Official Liquidator was appointed as provisional liquidator to secure and preserve assets, books and records. Case-Laws Companies Law Tue, 08 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470956