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2014 (3) TMI 11 - HC - Companies LawWinding up of Company - Inability to pay debts - Held that:- Indian company (respondent), having received the goods and perhaps also turned them into profit, seeks to wriggle out of the liability to pay the dues to the UK company by taking specious pleas and also by placing an untenable interpretation on the settlement proposal by which the original dues of GBP 87,240 was brought down generously to GBP 32,240. It also appears to me to be a case where the respondent has the ability to pay, but does not choose to pay; in such a case, the court will not come to its defence - Following decision of Madhusudan Gordhandas & Co. v. Madhu Woollen Industries (P.) Ltd. [1971 (10) TMI 49 - SUPREME COURT OF INDIA] - Decided in favour of appellant.
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