https://www.taxtmi.com/caselaws?id=97271 A creditor's winding up petition failed because the alleged statutory notice was not validly served at the company's registered office and was issued too late to satisfy the required interval before presentation of the petition. Without a valid statutory notice, the presumption of inability to pay debts could not arise. The company was also not shown to be unable to pay its debts, as the material indicated an admitted fund exceeding the alleged liabilities. The separate substratum argument likewise failed because the underlying facts remained disputed and the creditor's debt was not shown to be in jeopardy; winding up was therefore not warranted on equitable grounds. en-us Thu, 17 Dec 1953 00:00:00 +0530 Mon, 16 Jan 2012 11:29:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97271 A creditor's winding up petition failed because the alleged statutory notice was not validly served at the company's registered office and was issued too late to satisfy the required interval before presentation of the petition. Without a valid statutory notice, the presumption of inability to pay debts could not arise. The company was also not shown to be unable to pay its debts, as the material indicated an admitted fund exceeding the alleged liabilities. The separate substratum argument likewise failed because the underlying facts remained disputed and the creditor's debt was not shown to be in jeopardy; winding up was therefore not warranted on equitable grounds. Case-Laws Companies Law Thu, 17 Dec 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97271