https://www.taxtmi.com/caselaws?id=99347 The court admitted the winding-up petition against the company due to its failure to pay the admitted debt, lack of evidence of commercial solvency, and inconsistencies in the company's defense regarding the disputed amount. Despite the company's claims of negotiations and ongoing communication with the petitioners, the court found discrepancies in the company's contentions, leading to the rejection of the dispute as genuine. The court's decision was supported by the assessment of the company's financial status, including its inability to produce the latest audited balance sheet, indicating its inability to meet its liabilities. en-us Fri, 27 Feb 1976 00:00:00 +0530 Fri, 27 Jan 2012 10:37:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99347 The court admitted the winding-up petition against the company due to its failure to pay the admitted debt, lack of evidence of commercial solvency, and inconsistencies in the company's defense regarding the disputed amount. Despite the company's claims of negotiations and ongoing communication with the petitioners, the court found discrepancies in the company's contentions, leading to the rejection of the dispute as genuine. The court's decision was supported by the assessment of the company's financial status, including its inability to produce the latest audited balance sheet, indicating its inability to meet its liabilities. Case-Laws Companies Law Fri, 27 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99347