![]() The court does not get jurisdiction only because of the provisions of law mentioned by the applicant. However, the courts have taken the assistance of this clause wherever it was of the opinion that the running of the company was not viable or beneficial to the shareholders. No general classification can be made to show under what circumstances the court can invoke the ‘just and equitable clause’. It is a question of fact and each case must depend on its own circumstances 5. The courts have thus held the words ‘just and equitable’ to be words of the widest significance and as not limiting the jurisdiction of the court to any case. The term 'just and equitable' has lost its technical meaning and has acquired a more meaningful and pragmatic one. Shekhar Mehra 4, the court observed that the term 'just and equitable' has undergone a radical change in the social and economic conditions in our country. ![]() 3 ,the court held that "though the court is not bound to construe this clause ejusdem generis, as only covering grounds of a like nature with those specified in Clauses 1 to 5, yet it will require grounds of a like magnitude before acting under the clause." ![]() ![]() In ordering a company to be wound up under this clause, the courts have to take into consideration the interest of the company, its employees, creditors, shareholders and the general public 2.įor a long period of time the term ‘just and equitable’ were read ejusdem generis. The just and equitable clause confers very wide discretionary powers on the court 1. ![]()
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