1994 (4) TMI 228

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.... G.S. Singhvi, J. - This petition has been filed under section 434 of the Companies Act, 1956, with a prayer to order winding up of Partap Rajasthan Special Steels Ltd., Jaipur, on the ground that it is just and equitable and in the interest of justice to wind up the company on account of huge financial losses suffered by the company. Notice of this petition was ordered to be issued by the c....

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.... Gujarat High Court in Testeels Ltd. v. Radhaben Ranchodlal [1989] 66 Comp. Cas. 555. A similar question has been examined by me in S.B. Company Petition No. 6 of 1991 (Union of India v. Krishna Mills Ltd. [1994] 81 Comp. Cas. 50), after a detailed examination of the scheme of the 1985 Act and it has been held by the court that the proceedings on the company petition do not abate merely because....