Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2016 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 872 - HC - Companies LawWinding up petition - ex-Director of the respondent company seeking winding up of the respondent company on account of the alleged failure to pay interest at 24% p.a. on the admitted liability of ₹ 75.50 lakhs due by the respondent company to the petitioner, against the loan advanced by the petitioner to the respondent company - Held that:- This Court is of the clear opinion that no ground as is set out in S. 433(e) of the Act viz., the inability to pay the admitted debt of the company, has been established in the present case to the extent of interest of 24% claimed by the petitioner, an ex-director of the company and therefore, the winding up petition has no merit and the same is liable to be dismissed.
|