https://www.taxtmi.com/caselaws?id=97042 A party named in the list of creditors to be served was treated as competent to appeal in his own capacity, even without appearance before the District Judge, because the appeal was not filed as the company's representative. A winding-up petition was maintainable where the petitioning creditors were creditors with a provable debt not shown to be bona fide disputed. The company's heavy liabilities, inadequate cash, mortgaged or pledged assets, continuing losses, and no reasonable prospect of profitable trading supported commercial insolvency and also justified winding up on just and equitable grounds. en-us Fri, 02 Dec 1949 00:00:00 +0530 Fri, 13 Jan 2012 17:29:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97042 A party named in the list of creditors to be served was treated as competent to appeal in his own capacity, even without appearance before the District Judge, because the appeal was not filed as the company's representative. A winding-up petition was maintainable where the petitioning creditors were creditors with a provable debt not shown to be bona fide disputed. The company's heavy liabilities, inadequate cash, mortgaged or pledged assets, continuing losses, and no reasonable prospect of profitable trading supported commercial insolvency and also justified winding up on just and equitable grounds. Case-Laws Companies Law Fri, 02 Dec 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97042