Mumbai: In a pivotal decision, the Bombay High Court on Wednesday overturned an earlier order staying the winding-up proceedings of Swadeshi Mills Company Limited, effectively reviving its liquidation process.
The judgment followed an appeal by shareholders Bipin Bagadia and Ashish Mooni, challenging the stay granted by a lower court. The stay had been sought by Grand View Estates Private Limited and Forbes & Co. Ltd., entities within the Shapoorji Pallonji Group, which together hold a 52% stake in the company.
Advocates for the minority shareholders, Mohit Khanna and Vaibhav Jagdale, contended that the stay orders violated established legal principles. They cited Supreme Court…
