Case Note & Summary
The judgment pertains to an appeal filed by Reminiscent India Television Ltd against an order dated 27 July 2010 passed by the learned Company Judge in Company Petition No.715 of 2002. The Company Judge had made the petition absolute in terms of prayer (a), thereby ordering the winding up of the appellant company. The appellant, represented by Ms. Patrawala, argued against the winding up order. However, the Division Bench, comprising M.S. Sonak and Advait M. Sethna JJ., after hearing the counsel, found no merit in the appeal. The Court observed that the Company Judge had correctly exercised discretion in ordering winding up as the company was unable to pay its debts and it was just and equitable to do so. Consequently, the appeal was dismissed. The judgment is brief, with the court stating that no grounds were made out to interfere with the impugned order.
Headnote
A) Company Law - Winding Up - Just and Equitable Clause - Sections 433, 434, 439 of the Companies Act, 1956 - The appeal challenged the order of the Company Judge making the winding up petition absolute. The Court held that no grounds were made out to interfere with the discretion exercised by the Company Judge. The company was unable to pay its debts and it was just and equitable to wind up the company. (Paras 1-2)
Issue of Consideration
Whether the appeal against the order making the company petition absolute for winding up should be allowed.
Final Decision
Appeal No.1010 of 2010 and connected appeals are dismissed. The order dated 27 July 2010 making Company Petition No.715 of 2002 absolute is upheld.
Law Points
- Winding up
- just and equitable clause
- inability to pay debts
- company petition
- appeal against winding up order
- discretion of company judge
Case Details
2025 LawText (BOM) (12) 310
Appeal No. 1010 of 2010, Appeal No. 1011 of 2010, Appeal No. 1012 of 2010, Company Petition No. 715 of 2002
M.S. Sonak, Advait M. Sethna
Ms. Naseem Patrawala, i/by Patrawala & Co.
Reminiscent India Television Ltd
Subscribe to unlock Case Details (Citation, Judge, Date & more)
Subscribe Now
Nature of Litigation
Appeal against order making winding up petition absolute.
Remedy Sought
Appellant sought to set aside the order dated 27 July 2010 making Company Petition No.715 of 2002 absolute.
Filing Reason
The appellant company was aggrieved by the winding up order passed by the Company Judge.
Previous Decisions
Company Petition No.715 of 2002 was made absolute by the learned Company Judge on 27 July 2010.
Issues
Whether the appeal against the winding up order should be allowed.
Submissions/Arguments
Ms. Patrawala for the appellant argued against the winding up order.
Ratio Decidendi
No grounds were made out to interfere with the discretion exercised by the Company Judge in ordering winding up as the company was unable to pay its debts and it was just and equitable to wind up the company.
Judgment Excerpts
Heard Ms. Patrawala for the Appellant.
The Appeal No.1010 of 2010 is directed against the order dated 27 July 2010 made by the, learned Company Judge making the Company Petition No.715 of 2002 absolute in terms of prayer (a).
Procedural History
Company Petition No.715 of 2002 was filed for winding up of the appellant company. The learned Company Judge made the petition absolute on 27 July 2010. The appellant filed Appeal No.1010 of 2010 and connected appeals against that order. The appeals were heard by a Division Bench on 11 December 2025 and dismissed.
Acts & Sections
- Companies Act, 1956: 433, 434, 439
