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          <h1>Company Unable to Pay Debts if Ignored Creditor's Demand Over 1 Lakh Under Companies Act, 1956, Section 434.</h1> A company is deemed unable to pay its debts under the Companies Act, 1956, if: (a) a creditor to whom the company owes over one lakh rupees serves a demand for payment, and the company neglects to pay, secure, or settle the debt within three weeks; (b) a court or tribunal-issued execution in favor of a creditor is returned unsatisfied; or (c) a tribunal determines the company cannot pay its debts, considering its contingent and prospective liabilities. A demand is valid if signed by an authorized agent or legal adviser of the creditor or firm.

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