Advocate Sushila
SUPREME COURT HOLDS THAT COMPANY COURT CAN NOT DECIDE ON DEFAULT IN A WINDING UP PROCEEDINGS
Advocate Sushila Ram 11 Apr 2021

SUPREME COURT HOLDS THAT COMPANY COURT CAN NOT DECIDE ON DEFAULT IN A WINDING UP PROCEEDINGS

The #SupremeCourt of India in the case of Shital Fibers Ltd. v Indian Acrylics Limited (Civil Appeal No. 1105/2021), vide its Judgment dated 06.04.2021 held that the Company Court while exercising its powers under Sections 433 and 434 of the #CompaniesAct, 1956 is not in a position to decide the party that has #defaulted in non-compliance with the terms of the deed of #settlement and the #compromise deed that parties had entered into.


Read More:


https://theindianlawyer.in/supreme-court-holds-that-company-court-can-not-decide-on-default-in-a-winding-up-proceedings/


#windingup #compromise #supremecourt #companycourt #company

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