https://www.taxtmi.com/caselaws?id=100245 The court considered a petition under sections 433, 434, and 439 of the Companies Act, 1956, where the petitioner sought winding up of a company due to non-payment of decretal amounts. The respondents admitted liability and agreed to settle by a specified date. The court clarified the interpretation of Companies (Court) Rules, 1959, particularly rule 34 on notice for appearing at the petition hearing. It emphasized that the petition could not proceed until advertised and that creditors must serve a statutory notice for claimed amounts. If the respondents failed to pay by the deadline, the petition would be advertised; otherwise, it would be dismissed pending payment verification. en-us Thu, 07 Oct 1982 00:00:00 +0530 Tue, 31 Jan 2012 16:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100245 The court considered a petition under sections 433, 434, and 439 of the Companies Act, 1956, where the petitioner sought winding up of a company due to non-payment of decretal amounts. The respondents admitted liability and agreed to settle by a specified date. The court clarified the interpretation of Companies (Court) Rules, 1959, particularly rule 34 on notice for appearing at the petition hearing. It emphasized that the petition could not proceed until advertised and that creditors must serve a statutory notice for claimed amounts. If the respondents failed to pay by the deadline, the petition would be advertised; otherwise, it would be dismissed pending payment verification. Case-Laws Companies Law Thu, 07 Oct 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100245