https://www.taxtmi.com/caselaws?id=99407 The court granted a stay of the winding-up petition filed against a company based on a decretal claim under section 434 of the Companies Act, 1956. Despite concerns about asset dissipation, the company showed willingness to pay the debt by proposing installment payments. The judge allowed the company to pay off the debt in installments until a specified date, warning of dismissal for non-compliance. The decision aimed to balance the company's financial situation with the petitioning-creditor's claim, ensuring fairness in resolving the dispute. en-us Tue, 05 Mar 1974 00:00:00 +0530 Fri, 27 Jan 2012 12:20:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99407 The court granted a stay of the winding-up petition filed against a company based on a decretal claim under section 434 of the Companies Act, 1956. Despite concerns about asset dissipation, the company showed willingness to pay the debt by proposing installment payments. The judge allowed the company to pay off the debt in installments until a specified date, warning of dismissal for non-compliance. The decision aimed to balance the company's financial situation with the petitioning-creditor's claim, ensuring fairness in resolving the dispute. Case-Laws Companies Law Tue, 05 Mar 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99407