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2009 (3) TMI 576 - HIGH COURT OF MADRASWinding up - Circumstances in which a company may be wound up - Held that:- As the debt due to the petitioner-company was duly established and it is a determined sum of money payable by the respondent. That apart, it has also been established that the respondent was unable to pay its dues. In fact, the liability to pay also was admitted by the respondent. A weak attempt was made to put up a defence which is not a substantial one and there is no bona fide dispute with regard to the sum payable towards the principal. Therefore, the petitioner can very well maintain the company petition.
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