https://www.taxtmi.com/caselaws?id=99328 Sufficient particulars in a statutory demand and winding-up petition are required, but an omission will not defeat maintainability where the debt was clearly admitted in the company's balance-sheets and no prejudice was shown. An admission of indebtedness in successive balance-sheets operates as acknowledgment for limitation purposes, keeping the claim within time. An injunction in a connected suit did not prevent the creditor from opposing a stay application or from proving inability to pay debts by other evidence. A secured creditor may also present a winding-up petition without first giving up security, as a secured creditor remains a creditor for that purpose. en-us Tue, 25 Nov 1975 00:00:00 +0530 Wed, 25 Jan 2012 18:51:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99328 Sufficient particulars in a statutory demand and winding-up petition are required, but an omission will not defeat maintainability where the debt was clearly admitted in the company's balance-sheets and no prejudice was shown. An admission of indebtedness in successive balance-sheets operates as acknowledgment for limitation purposes, keeping the claim within time. An injunction in a connected suit did not prevent the creditor from opposing a stay application or from proving inability to pay debts by other evidence. A secured creditor may also present a winding-up petition without first giving up security, as a secured creditor remains a creditor for that purpose. Case-Laws Companies Law Tue, 25 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99328