Home Highlights May 2014 Year 2014 This

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1. Winding up of the appellant company - Undeniably, in cases where the defence against the claim of debt is found to be moonshine or a sham, the petition for winding up...

2. Winding up of Company - Inability to pay its debts - An Arbitrator, notwithstanding, any agreement between the parties, would have no jurisdiction to order winding up of...

3. Winding up of respondent company under Section 433 (e) on the ground of inability to pay the debt - proof of bonafide debt - It is settled position in law that winding...

4. Winding up petition - inability to pay debts - The disputes to the debt due as raised in the reply to the winding up petition are a mere after thought and without...

5. Winding up of company - Inability to pay debts - ZIL and its promoters/directors employed a device or artifice to fraudulently divert the sale proceeds of its MSD Division - HC

6. Winding up of company - Dues not paid - winding up petition is not a legitimate means of seeking to enforce payment of the debt which is bona fide disputed by the company - HC

7. Winding up petition – Inability to pay debt - One of the tests to determine whether the dispute is genuine, and real and is raised bona fide and whether the refusal...

8. Winding up petition - company is unable to pay its debts - The respondent is not able to avoid statutory demand by raising any specific dispute and thus deserves to face...

9. When a Company is unable to pay the debt or refuse to pay the debt, the financial creditor or the operational creditor, as the case may be, can initiate insolvency...

10. Winding up of Company - Inability to pay debts - it is a case where the respondent has the ability to pay, but does not choose to pay; in such a case, the court will not...

11. Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

12. Seeking winding up of the respondent company - inability to pay debts - disobedience of the orders of the Court - The court found the winding-up proceedings to be...

13. Dishonor of Cheque - existence of enforceable debt or not - evidently, the cheque in question was given as ‘security’ and not in respect of any ‘enforceable debt’, which...

14. Winding up u/s 433(e) r.w 434(1)(a) - Inability to pay Debts -The order of winding up of the company to be kept in abeyance for a period of eight weeks to give JIL one...

15. Winding up - Inability to pay debts - The debt being disputed by the respondent for the reasons attributable to the petitioners namely, on account of the terms of the...