https://www.taxtmi.com/caselaws?id=99985 The court dismissed the application for a stay of the winding-up petition, finding the company's defense alleging debenture issuance to be dishonest and lacking good faith. The court concluded that the petitioning-creditor's claim of a loan was credible, indicating the company's insolvency. The interim stay was lifted, the application was dismissed with costs, and the winding-up petition was ordered to be advertised. The court directed the balance sheet and debenture documents to be kept in court custody. en-us Tue, 27 Mar 1979 00:00:00 +0530 Mon, 30 Jan 2012 17:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99985 The court dismissed the application for a stay of the winding-up petition, finding the company's defense alleging debenture issuance to be dishonest and lacking good faith. The court concluded that the petitioning-creditor's claim of a loan was credible, indicating the company's insolvency. The interim stay was lifted, the application was dismissed with costs, and the winding-up petition was ordered to be advertised. The court directed the balance sheet and debenture documents to be kept in court custody. Case-Laws Companies Law Tue, 27 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99985