https://www.taxtmi.com/caselaws?id=101248 The court directed the advertisement of the winding-up petition, setting the next hearing for June 3, 1983. Despite the company's arguments on debts and commercial solvency, the court found the defence lacking in genuineness and bona fide nature. It held that acknowledgments in balance-sheets and revival letters were valid, rejecting the company's claims of time-barred debts. The court prioritized public interest over potential harm to the company, emphasizing the need for further investigation and proceeding with the winding-up petition. en-us Fri, 22 Apr 1983 00:00:00 +0530 Fri, 09 Feb 2018 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101248 The court directed the advertisement of the winding-up petition, setting the next hearing for June 3, 1983. Despite the company's arguments on debts and commercial solvency, the court found the defence lacking in genuineness and bona fide nature. It held that acknowledgments in balance-sheets and revival letters were valid, rejecting the company's claims of time-barred debts. The court prioritized public interest over potential harm to the company, emphasizing the need for further investigation and proceeding with the winding-up petition. Case-Laws Companies Law Fri, 22 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101248