https://www.taxtmi.com/caselaws?id=98560 Non compliance with a statutory notice under Section 434(1)(a) combined with an undisputed creditor claim entitles the creditor to a winding up order; the court applied the principle that an undisputed debt is not a defence to insolvency and ordered winding up ex debito justitiae. The court refused to postpone admission merely for an undeveloped or speculative compromise proposal but exercised discretion to allow a limited procedural accommodation: advertisement of the petition is postponed for twelve weeks to enable the company to place any concrete scheme of compromise or arrangement before the court. en-us Mon, 07 Oct 1968 00:00:00 +0530 Sat, 21 Jan 2012 11:36:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98560 Non compliance with a statutory notice under Section 434(1)(a) combined with an undisputed creditor claim entitles the creditor to a winding up order; the court applied the principle that an undisputed debt is not a defence to insolvency and ordered winding up ex debito justitiae. The court refused to postpone admission merely for an undeveloped or speculative compromise proposal but exercised discretion to allow a limited procedural accommodation: advertisement of the petition is postponed for twelve weeks to enable the company to place any concrete scheme of compromise or arrangement before the court. Case-Laws Companies Law Mon, 07 Oct 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98560