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2009 (7) TMI 761 - HIGH COURT OF MADRASWinding up - Circumstances in which a company may be wound up - Held that:- The non-availing of loan by the respondent from the foreign bank, in spite of the efforts taken by the petitioner under the agreement, itself cannot be a ground to decide that there has been inability on the part of the respondent-company to pay the amount due to the petitioner. The grounds raised by the petitioner against the respondent cannot be presumed to be an inability to pay off the debts by the respondent-company under section 433(e) of the Act and therefore, the petition is not maintainable and the same is dismissed
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