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of <h1>Winding-up Order Issued for Metalfabs India (P.) Ltd. by Allahabad High Court</h1> The High Court of Allahabad granted the petition by Bank of India to wind up Metalfabs India (P.) Ltd. for unpaid debts of Rs. 59,42,319.40. The company ... Winding up of company - Inability to pay debts The High Court of Allahabad allowed the petition filed by Bank of India to wind up Metalfabs India (P.) Ltd. due to unpaid debts amounting to Rs. 59,42,319.40. The company had admitted the debts and was non-operational for over ten years. The official liquidator was appointed for the winding-up process. The order was to be advertised in newspapers and the State Official Gazette. A copy of the order was to be filed with the Registrar of Companies within one month. (Case Citation: 1998 (1) TMI 396 - HIGH COURT OF ALLAHABAD)
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