Winding-up petition admission turns on locus standi, acknowledgment of debt, and prima facie unpaid liability after amalgamation.

Amalgamation transferred the transferor-company's debts and liabilities to the transferee-company, giving the petitioner locus standi as creditor to pursue the winding-up petition. The respondent's letter on company letterhead, signed by its Assistant Vice-President (Finance), was treated as a valid acknowledgment of liability for limitation purposes. On the materials before the HC, a prima facie unpaid debt was shown and the respondent had admitted an outstanding balance despite statutory notice. At the admission stage under the Companies (Court) Rules, the court confined itself to whether the petition was fit for admission and advertisement, and directed admission while deferring advertisement for a limited period unless the admitted amount was deposited.

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Issues: Whether the winding-up petition should be admitted and advertised, in light of the objections regarding the petitioner's locus standi after amalgamation, limitation, acknowledgment of debt, and liability to pay interest.

Analysis: The petitioner was held to have locus standi because, under the amalgamation order, the debts and liabilities of the transferor-company stood transferred to the transferee-company, making it the creditor entitled to recover the dues. The court also treated the respondent's letter on the company letterhead, signed by its Assistant Vice-President (Finance), as a sufficient acknowledgment of liability for limitation purposes. On the materials before it, the court found a prima facie debt and held that the respondent had admitted an unpaid balance despite service of statutory notice. As the matter was at the stage of admission under the Companies (Court) Rules, the court confined itself to whether a case for admission and advertisement was made out.

Conclusion: The petition was held fit for admission, and advertisement was directed to remain deferred for a limited period unless the respondent deposited the admitted amount.

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