Company Directors Dispute Over Undisclosed Share Allotment Leads to Winding Up Due to Lack of Records and Assets.

Non-disclosure of allotment of equity shares of Respondent company - Dispute between the Directors - The allotment of shares has been done without getting it approved in any Board Meeting - In the absence of any record available to be produced by either of the parties and non-existence of the assets of the company, it will be futile exercise to make any order except winding up of the company in the circumstances. .....

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