It may be noted that the power of the court to order winding up is discretionary and there is no rigid formula. The Court may refuse to hold the company insolvent on other considerations including that of public interest even after the requirements of the notice are complied with. The Company Court, at times, does not only look into the interest of the creditors, but also the interests of public at large.
- Mediquip Systems (P) Ltd. v. Proxima Medical System GMBH, AIR 2005 SC 4175 (para 18)
- IBA Health v. Info-Drive Systems, (2010) 10 SCC 553 (para 17 & 25)
- Indo Rolhard Industries Ltd. vs. M.K. Mahajan & Anr., 197 (2013) DLT 446 (para 5)