2001 (7) TMI 1162 - HC - Companies Law

Summary

The petition for winding up of the company was dismissed as it was filed without the consent of BIFR, as required by section 22(1) of the Companies Act, 1956. The scheme sanctioned by BIFR was still under implementation, making the proceedings not maintainable. The court noted that the petitioner could approach BIFR or file the petition after the bar under section 22(1) is lifted.