Admissibility of Winding up petition filed invoking Sections 433 ...

Companies Law

April 23, 2022

Admissibility of Winding up petition filed invoking Sections 433 (e) and (f) of the Companies Act, 1956 - appointment of the Official Liquidator - The admission of the winding up petition is not automatic. If the debt is bonafidely disputed and the defence is a substantial one, the Court will not wind up the company. Therefore, before admitting such a petition, it needs to be ascertained by the Company Court, what defence the Company has taken and whether the said defence can be said to be bonafide - Both the defences raised by the appellant are rejected. At least, they are not accepted as bonafide defence. - HC

View Source

← Previous Next →

Admissibility of Winding up petition filed invoking Sections 433 ...

Companies Law

April 23, 2022

You may also like:

Insolvency resolution by operational creditor - the application under sections 433 and 434 of the Companies Act, 1956 cannot be treated to be an application under...

Appointment of an arbitrator - Declination to appoint an Arbitrator in exercise of its power under Section 11(6) of the Arbitration and Conciliation Act, 1996 - So far...

Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

Winding up petition - Whether an employee can maintain a Petition for winding up of a Company under section 439 r/w sections 433(e) and 434(1)(a) of the Companies Act,...

Confirmation of service tax demand by invoking proviso to Section 73 (1) and waiver of penalty by invoking Section 80 do not go hand in hand- AT

Addition of kerosene oil in the exceptions mentioned in respect of petroleum products in the Notification No.F.7 (433)/Policy-II/VAT/2012/1464, dated 23.03.2012. - Ntf....

Validity of the proceedings u/s 147 - Search proceedings u/s 132 - Whether Section 153A has overriding effect over Section 147 - material found during the course of...

Appointment of auditors - requirements of annual ratification by members with respect to appointment of auditors done away with - Section 139(1) of the Companies Act, 2013

Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

Maintainability of Arbitration application - time limitation - the appellant, who served the legal notice invoking the arbitration clause and requesting for appointment...

Section 196(3) of Companies Act, 2013 does not interrupt appointment of Managing Director where at date of such appointment or re-appointment Managing Director was below...

Rectification u/s 154 - Rate of tax u/s 115BBE on undisclosed investment - AO has not invoked the provisions of section 69 at first place while passing the assessment...

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...

Application for Winding up of the Company - merely because the Respondent Company is a running concern and has employees working, cannot be a reason to reject a winding...

Winding up of company - Inability to pay debts - a petition under Section 433 (e) of the Companies Act, 1956, will not lie in respect of a debt which is barred by...

Quick Updates: