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        <h1>Dismissed petition for winding up due to salary issue not constituting a debt under Companies Act</h1> <h3>Pawan Kumar Khullar Versus Kaushal Leather Board Ltd.</h3> The High Court of Madhya Pradesh dismissed the petition for winding up 'Kaushal Leather Board Limited' as the company's inability to pay salary did not ... Winding up - Company when deemed unable to pay its debts The petition for winding up of 'Kaushal Leather Board Limited' was dismissed by the High Court of Madhya Pradesh as the company's inability to pay salary did not constitute a debt under section 433(e) of the Companies Act, 1956. The petitioner was advised to pursue salary recovery through appropriate forum.

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