https://www.taxtmi.com/caselaws?id=96611 Fraudulent-purpose relief under the Companies Act, 1929 requires proof of actual dishonesty involving real moral blame; the applicant bears the burden of satisfying the court. Solvency is not established merely because assets exceed liabilities on a balance-sheet basis. It requires the ability to pay debts as they fall due, with the supporting debenture holder bearing the onus of proving solvency in relation to a floating charge. The application failed because fraudulent conduct was not established. en-us Wed, 15 Mar 1933 00:00:00 +0530 Mon, 09 Jan 2012 17:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96611 Fraudulent-purpose relief under the Companies Act, 1929 requires proof of actual dishonesty involving real moral blame; the applicant bears the burden of satisfying the court. Solvency is not established merely because assets exceed liabilities on a balance-sheet basis. It requires the ability to pay debts as they fall due, with the supporting debenture holder bearing the onus of proving solvency in relation to a floating charge. The application failed because fraudulent conduct was not established. Case-Laws Companies Law Wed, 15 Mar 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96611