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Search Results for Tag : Winding up

Notifications & Circulars

Reserve Bank of India cancels the licence of Independence Co-operative Bank Limited(03.02.2022)

Reserve Bank of India (RBI), vide order dated February 02, 2022, has cancelled the licence of Independence Co-operative Bank Ltd., Nashik, Maharashtra.....

Tags : Licence, Cancellation, Winding up



Judgments

A winding up order passed by a Company Judge is not irrevocable and proceedings can be later transferred to NCLT, if same is in company’s interest(10.10.2019)

The instant appeal has been preferred in the name, and on behalf of the Appellant-company, by Mr. Naresh Kumar Aggarwal, who claims himself to be the .....

Tags : Winding up, Transfer, NCLT



News

Karnataka HC Orders Winding Up of Kingfisher Airlines(21.11.2016)

Karnataka High Court has ordered winding up of now defunct Kingfisher Airlines Limited(KFL).

Tags : Karnataka High Court , Kingfisher Airlines, winding up



CESTAT, Mumbai: Lehman Brothers Securities Eligible for Service Tax Refund Claim(08.04.2022)

Customs, Excise and Service Tax Appellate Tribunal, Mumbai has ruled that Lehman Brothers Securities Pvt Ltd, is entitled for the refund claim of Serv.....

Tags : Customs, Excise and Service Tax Appellate Tribunal, Mumbai, Lehman Brothers Securities Pvt Ltd, Service Tax, legal consultancy services, Reverse Charge Mechanism, winding up



SC: Any Creditor Can Seek Transfer of Winding Up Proceedings in HC To NCLT(20.11.2020)

Supreme Court has held that any creditor of a company can seek transfer of winding up proceeding pending before a High Court to a National Company Law.....

Tags : Supreme Court, Transfer of Winding Up Proceedings



Bombay High Court: Winding Up Plea By Employee As Creditor to Recover Unpaid Wages is Maintainable(24.03.2017)

Bombay High Court has held that a winding up petition filed by an employee under Section 439 r/w sections 433(e) and 434 of Companies Act, 1956, as a .....

Tags : Bombay High Court, Winding Up, Employee



Karnataka HC Dismisses Plea Challenging Antrix's Winding Up Proceedings Against Devas with Cost(03.05.2021)

Karnataka High Court has dismissed a petition which sought to quash proceedings initiated by ISRO-arm Antrix Corporation before National Company Law T.....

Tags : Karnataka High Court, Antrix's Winding Up Proceedings



Ministry of Corporate Affairs Notifies Winding Up Rules(29.01.2020)

Ministry of Corporate Affairs has notified rules for winding up of companies, making it easier for smaller firms to wind up businesses without taking .....

Tags : Ministry of Corporate Affairs, Winding Up Rules



When there is no specific denial against the assertions made by the creditors, it implies admission(16.10.2020)

Present are appeals preferred under Section 483 of the Companies Act, 1956, read with Section 5 of the High Court Act, challenging the correctness of .....

Tags : Insolvency, Winding up, Validity



Winding up proceedings pending before High Courts, which are at a nascent stage ought to be transferred to the NCLT(24.04.2024)

The instant Company Petition has been instituted under Sections 433(e), 434 and 439 of the Companies Act, 1956 seeking winding up of the Respondent co.....

Tags : Outstanding dues, Non-payment, Winding up



Madras HC Orders Winding Up of SpiceJet Ltd, Official Liquidator to Take Over Company Assets(07.12.2021)

Madras High Court has ordered that SpiceJet Limited must be wound up and the assets must be taken over by the official liquidator on the grounds of pr.....

Tags : Madras High Court, Winding Up of SpiceJet Ltd



Supreme Court Affirms Winding Up of Devas Multimedia on Plea of ISRO Arm Antrix(18.01.2022)

Supreme Court has dismissed an appeal filed by Devas Multimedia challenging the orders passed by the NCLT and NCLAT allowing the winding up of the com.....

Tags : Supreme Court, Winding Up of Devas Multimedia



Delhi High Court: Winding Up Order is not Irrevocable(11.10.2019)

Delhi High Court has ruled that a winding up order passed by a Company Judge is not irrevocable and the proceedings can be later transferred to Nation.....

Tags : Delhi High Court, Winding Up



Winding up proceedings pending before High Courts, which have not progressed to an advanced stage, ought to be transferred to the NCLT(07.05.2024)

The present company petition has been instituted under Section 433 (e) and (f) of the Companies Act, 1956 read with Section 434 and 439 of the Act, se.....

Tags : Winding up, Proceedings, Transfer



International Cases

Costs of winding up of a partnership are to be paid out of the partnership assets unless there are good reasons to the contrary(18.06.2020)

In present matter, On 11 March 2019 the Plaintiff, in his own capacity and in his capacity as executor of the deceased's estate, brought an applicatio.....

Tags : Winding up, Costs, Assets, Partnership



High Court "unjustifiably considerate" in setting aside order passed on mistaken concession by junior counsel(13.08.2015)

The Supreme Court differed with the finding of the High Court that a concession by a junior counsel before a Company Court was mistaken. It held that .....

Tags : counsel, mistake, winding up, concession



Loss of Ecology Authority shuttered(07.04.2016)

The Loss of Ecology Authority, functioning intermittently to entertain claim petitions form farmers seeking compensation for damage caused to agricult.....

Tags : loss of ecology, authority, winding up, ngt



After passing of resolution for voluntary winding up, no action or other civil proceeding is to be proceeded with or commenced against the company except by leave of the Court(25.08.2022)

Present is an application made pursuant to Section 500(2) of the Corporations Act, 2001. The Plaintiff seeks to be granted leave nunc pro tunc to proc.....

Tags : Voluntary winding up, Proceeding, Leave of court



There must be some valid reason for the discretion to be exercised under Section 482(1) of the Corporations Act, 2001(09.08.2022)

The Plaintiff by originating process seeks orders pursuant to Section 482(1) and Section 482(1A) of the Corporations Act, 2001 for the winding up of H.....

Tags : Winding up, Stay, Entitlement



Court can make a winding up order on the just and equitable ground by reason of mismanagement or lack of confidence in the conduct and management of the company's affairs(01.07.2022)

By originating process which was amended on 14 February 2022, the Plaintiff seeks orders under the Corporations Act ,2001 for the reinstatement of Inf.....

Tags : Winding up, Reinstatement, Grant



Court may withhold a winding up order, where Plaintiff lacks clean hands or has himself or herself been primary contributor to breakdown of relationship.(03.08.2017)

In facts of instant case, winding up application is made pursuant to Section 461(1)(k) of Corporations Act, 2001. This is section which is generally r.....

Tags : Application, Winding up, Grant



Court must consider the factual matrix of the dispute in order to be satisfied whether sufficient reason exists to wind up the company(01.06.2023)

Present is an application by the Plaintiff for an order under Section 461(1)(k) of the Corporations Act, 2001 that the first defendant, KVG Contractin.....

Tags : Dysfunction, Winding up, Discretion



Interference would be called for, if the exercise of the discretion was based on a misdirection of fact or a wrong principle of law(18.05.2023)

Present is an appeal by the Commissioner for the South African Revenue Service (SARS) against an order setting aside the winding-up of Regiments Capit.....

Tags : Winding up, Discretion, Solvency



A person applying for the winding up of a company has to lodge a notice with Australian Securities Investments Commission(15.05.2024)

In present matter, on 7 May 2024, Digital Dealership Pty Ltd (Company) filed an application for orders that it be wound up on the grounds of insolvenc.....

Tags : Winding up, Liquidator, Appointment



A contributory is a person who is liable to contribute to the property of company on winding up and if there is a surplus is entitled to a distribution(06.12.2017)

Present is an application by Mr Lean brought pursuant to Section 461(1) of the Corporations Act, 2001 for the Court to wind up Banning Holdings Pty Lt.....

Tags : Contributory, Winding up, Grant



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