Winding Up Under Section 433(f) Requires Assessing If Company Poses Threat To Commercial World: Allahabad High Court
The Allahabad High Court, in a significant judgment under the Companies Act, 1956, refused to order the winding up of Sri Durga Bansal Fertilizer Ltd. on the ground that it was not just and equitable under Section 433(f). The petition was filed by Zaitek Polyblends Pvt. Ltd., claiming dues of over Rs. 21 crore. Grounds for seeking winding up The petitioner company approached the Court under Section 439(1)(b), Section 433(e)…
