High Court Sets Aside Winding-Up Order; Company Resolves Debts, Continues Operations and Employment Generation.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Winding up of company - Operation of a company also generates employment. But, for the fact that the appellant was set ex parte there was no substantial material to show that the financial position of the appellant was so poor there was no other option but to windup the company. As it now stands the appellant has settled its accounts with the petitioner and the secured creditor bank and assert that there are no other liabilities. It is not disputed by the Official Liquidator that there are no other claims received by his Office. - Winding up order set aside - HC....