https://www.taxtmi.com/caselaws?id=103025 The court dismissed the company petition as the debt was not proven to be owed by the respondent. The judgment emphasized the necessity of establishing a direct debt liability to warrant winding up under the Companies Act. The petitioner was granted the option to pursue the sister concern for the outstanding amount, highlighting the importance of clarity in debt obligations for winding-up proceedings. en-us Thu, 14 Dec 1995 00:00:00 +0530 Mon, 20 Feb 2012 13:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103025 The court dismissed the company petition as the debt was not proven to be owed by the respondent. The judgment emphasized the necessity of establishing a direct debt liability to warrant winding up under the Companies Act. The petitioner was granted the option to pursue the sister concern for the outstanding amount, highlighting the importance of clarity in debt obligations for winding-up proceedings. Case-Laws Companies Law Thu, 14 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103025