https://www.taxtmi.com/caselaws?id=96988 A creditor may continue or renew winding-up relief after sanction of a scheme of arrangement where the debt remains unpaid under the modified payment terms and the earlier petition was only adjourned, not dismissed. Defects in the petition or demand notices were treated as curable, and any notice defect affected only the statutory presumption of inability to pay, not the underlying right to prove insolvency by other evidence. Where the sanctioned scheme collapsed, payments were not made, and material facts were suppressed, the Court found a prima facie case for winding up on the just and equitable ground and appointed a provisional liquidator to protect the assets pending final hearing. en-us Tue, 27 Jan 1948 00:00:00 +0530 Fri, 13 Jan 2012 15:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96988 A creditor may continue or renew winding-up relief after sanction of a scheme of arrangement where the debt remains unpaid under the modified payment terms and the earlier petition was only adjourned, not dismissed. Defects in the petition or demand notices were treated as curable, and any notice defect affected only the statutory presumption of inability to pay, not the underlying right to prove insolvency by other evidence. Where the sanctioned scheme collapsed, payments were not made, and material facts were suppressed, the Court found a prima facie case for winding up on the just and equitable ground and appointed a provisional liquidator to protect the assets pending final hearing. Case-Laws Companies Law Tue, 27 Jan 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96988