Power of Tribunal on hearing petition.

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..... fit; or (d) make an order for winding up the company with or without costs, or any other order that it thinks fit: Provided that the Tribunal shall not refuse to make a winding up order on the ground only that the assets of the company have been mortgaged to an amount equal to or in excess of those assets, or that the company has no assets. (2) Where the petition is presented on the g .....

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..... ------------------- Notes:- [1] Sections 443 and 444 substituted by the Companies (Second Amendment) Act, 2002, w.e.f a date yet to be notified. Prior to substitution, section 443 and 444, as amended by the Companies (Amendment) Act, 1960, they read as under: "443. Powers of Court on hearing petition. (1) On hearing a winding up petition, the Court may ____ (a) dismiss it, w .....

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..... have the company wound-up instead of pursuing that other remedy. (3) Where the petition is presented on the ground of default in delivering the statutory report to the Registrar, or in holding the statutory meeting, the Court may ___ (a) instead of making a winding up order, direct that the statutory report shall be delivered or that a meeting shall be held; and (b) order the c .....

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