If an applicant is not in a position to satisfy on the point of just and equitable ground, the tribunal may refuse to make an order for winding up under Section 271(e) of the Companies Act, 2013 – Rajesh Agrawal Vs. Premier Proteins Ltd. – NCLAT New Delhi
NCLAT affirmed decision of NCLT and held that sub-section (2) of Section 273 clearly indicates that if such petition is filed i.e. petition filed under Section 271(e) read with Section 272 (1)(b) of the New Act, onus is on the applicant to satisfy that there is just and equitable ground for winding up of a company. Meaning thereby that if an applicant is not in a position to satisfy on the point of just and equitable ground, the tribunal may refuse to make an order for winding up.