2019 (5) TMI 1106

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....r ,  Rakesh Kumar (P. K.)  and  Jaishankar V. Nair , for the appellant/second petitioner. A. N. Rajan Babu ,  P. Gopalakrishnan  and  A. R. Easwar Lal , for respondents Nos. 1 and 2. S. Sujin  for respondent No. 3. Mohan Pulikkal ,  Smt. Manju Rajan  and  Smt. A. Amrutha Vidyadharan  for respondent No. 5. T. K. Shajahan , Senior Go....

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....443. Powers of Tribunal on hearing petition (1) xxxx xxxx xxxx xxxx (2) Where the petition is presented on the ground that it is just and equitable that the company should be wound up, the Tribunal may refuse to make an order of winding up, if it is of the opinion that some other remedy is available to the petitioners and that they are acting unreasonably in seeking to have the c....

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....anies Act, 1956. The petitioner in the Company Petition asserts that he is a contributory of S.N.D.P.Yogam which is a non-trading company to which the Companies Act, 1956 does apply. Clause (4) of the Memorandum of Association of the S.N.D.P.Yogam speaks both of 'liability' as well as 'shares' making it ambiguous warranting an adjudication as to its constitution. The Memorandum of ....

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....ain stage which is common to both winding up and though there may be some difference in procedure to be adopted, it is not such which is irreconcilable and cannot simultaneously be gone into. Indeed these are made in the manner indicated before. It has to be borne in mind that a discretion is conferred on the Court and it is only when the Court is satisfied that the facts justify the making of a w....