https://www.taxtmi.com/caselaws?id=102042 The court found the respondent-company unable to pay its debts, meeting the criteria for winding up under section 433(e). However, instead of immediately issuing a winding up order, the court exercised discretion to allow the respondent-company a three-month period to settle its debts with the petitioner-firm. This decision aimed to promote commercial morality and provide the company an opportunity to pay its dues. The winding up petition remains open for further orders on a future date. en-us Thu, 06 Jun 1991 00:00:00 +0530 Mon, 13 Feb 2012 15:10:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102042 The court found the respondent-company unable to pay its debts, meeting the criteria for winding up under section 433(e). However, instead of immediately issuing a winding up order, the court exercised discretion to allow the respondent-company a three-month period to settle its debts with the petitioner-firm. This decision aimed to promote commercial morality and provide the company an opportunity to pay its dues. The winding up petition remains open for further orders on a future date. Case-Laws Companies Law Thu, 06 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102042