M/S Subh Data Processing Pvt. Ltd. v. M/S Elder Pharmaceuticals Ltd. Cin No. L24239MH1983PLC029714
Case brief
What is this about?
The High Court admitted a winding up petition against Elder Pharmaceuticals Ltd. for inability to pay debts. Relying on an official report confirming insolvency and lack of a viable revival plan, the Court ordered the winding up of the company and appointment of a liquidator, simultaneously disposing of several other connected petitions.
What did the court decide?
Company directed to be wound up; Official Liquidator appointed as liquidator of assets and properties.