https://www.taxtmi.com/caselaws?id=99321 At the admission stage of a winding-up petition, once a prima facie debt and default are shown after statutory notice, the petition should be admitted unless a legally sustainable ground to refuse admission is established. Creditors opposing winding up have no right to intervene at the admission stage under the procedural scheme, because they may be heard later after admission when all creditors can participate. On the facts, the petitioning creditors' debts were admitted, notice of demand went unanswered, and the company's assertions of assets, bank finance, or a future revival scheme were unsupported; the petitions were therefore admitted. en-us Wed, 30 Jul 1975 00:00:00 +0530 Wed, 25 Jan 2012 18:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99321 At the admission stage of a winding-up petition, once a prima facie debt and default are shown after statutory notice, the petition should be admitted unless a legally sustainable ground to refuse admission is established. Creditors opposing winding up have no right to intervene at the admission stage under the procedural scheme, because they may be heard later after admission when all creditors can participate. On the facts, the petitioning creditors' debts were admitted, notice of demand went unanswered, and the company's assertions of assets, bank finance, or a future revival scheme were unsupported; the petitions were therefore admitted. Case-Laws Companies Law Wed, 30 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99321