TaxTMI 
TaxTMI 
Power of Tribunal on hearing petition.
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....nding up the company with or without costs, or any other order that it thinks fit: Provided that the Tribunal shall not refuse to make a winding up order on the ground only that the assets of the company have been mortgaged to an amount equal to or in excess of those assets, or that the company has no assets. (2) Where the petition is presented on the ground that it is just and equitable that th....
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....y the Companies (Second Amendment) Act, 2002, w.e.f a date yet to be notified. Prior to substitution, section 443 and 444, as amended by the Companies (Amendment) Act, 1960, they read as under: "443. Powers of Court on hearing petition. (1) On hearing a winding up petition, the Court may____ (a) dismiss it, with or without costs; or (b) adjourn the hearing conditionally or unconditionally; or....
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....the ground of default in delivering the statutory report to the Registrar, or in holding the statutory meeting, the Court may___ (a) instead of making a winding up order, direct that the statutory report shall be delivered or that a meeting shall be held; and (b) order the costs to be paid by any persons who, in the opinion of the Court, are responsible for the default. Consequences of windin....