Friday, November 2, 2018

What are the conditions that a contingent or prospective creditor has to fulfill for hearing of his petition for winding up before the court?

The Court shall not give a hearing to a petition for winding up of a company by a contingent orprospective creditors until such security for costs has been given as the Court thinks reasonable and until a prima facie case for winding up has been established to the satisfaction of the Court.

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