https://www.taxtmi.com/caselaws?id=101856 Liability for short delivery of goods by a common carrier can constitute a debt for winding-up purposes under the Companies Act, 1956, because a present liability to pay an ascertainable sum remains a debt even if the exact amount is quantified later. On that basis, the owner of the goods is treated as a creditor, being the person to whom the debt is payable. The text also notes that a statutory demand under Section 434 must be served and remain unsatisfied for the prescribed period before a winding-up petition is maintainable. en-us Thu, 22 Feb 1990 00:00:00 +0530 Sat, 11 Feb 2012 13:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101856 Liability for short delivery of goods by a common carrier can constitute a debt for winding-up purposes under the Companies Act, 1956, because a present liability to pay an ascertainable sum remains a debt even if the exact amount is quantified later. On that basis, the owner of the goods is treated as a creditor, being the person to whom the debt is payable. The text also notes that a statutory demand under Section 434 must be served and remain unsatisfied for the prescribed period before a winding-up petition is maintainable. Case-Laws Companies Law Thu, 22 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101856