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The High Court dismissed a winding up petition for non-compliance with statutory requirements, including lack of a special resolution, notice in the Gazette, and appointment of a liquidator.
The petitioner has satisfied all statutory and procedural requirements for winding up under the Companies Act and Companies (Insolvency) Rules, including inability to pay debts, cessation of business, and proper advertisement of the petition. The grounds are sufficient to warrant a winding up order.
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The court granted the winding up petition based on the voluntary resolution of the members, inability to carry on business, and compliance with statutory requirements.
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A voluntary winding-up petition was resolved by consent after the parties executed a Deed of Settlement, and the court recorded it as its order.
The High Court struck out a voluntary winding-up petition for non-compliance with statutory requirements, including failure to show Gazette notice and an improper request for court-appointed liquidation.
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