https://www.taxtmi.com/caselaws?id=99638 The court dismissed the creditor's petition for winding up the company, ruling that the company did not neglect to pay the debt within the agreed terms and that the notice under section 434 of the Companies Act, 1956, had been waived by a subsequent letter from the petitioner. Consequently, the court held that no winding-up proceeding could be maintained based on the original notice. Each party was directed to bear their own costs. en-us Wed, 09 Aug 1978 00:00:00 +0530 Sat, 28 Jan 2012 11:47:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99638 The court dismissed the creditor's petition for winding up the company, ruling that the company did not neglect to pay the debt within the agreed terms and that the notice under section 434 of the Companies Act, 1956, had been waived by a subsequent letter from the petitioner. Consequently, the court held that no winding-up proceeding could be maintained based on the original notice. Each party was directed to bear their own costs. Case-Laws Companies Law Wed, 09 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99638