https://www.taxtmi.com/caselaws?id=103205 The court rejected the respondent's defense of novation of contract and liability for payment, emphasizing the continued liability to pay for goods supplied. It held that the winding-up petition was maintainable despite a pending civil suit, citing the interests of stakeholders. The court admitted the winding-up petition due to the respondent's financial difficulties, prolonged factory closure, and acknowledgment of debt, ordering a citation to be published with an option to avoid publication upon payment within a specified period. en-us Fri, 23 Apr 1993 00:00:00 +0530 Tue, 21 Feb 2012 15:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103205 The court rejected the respondent's defense of novation of contract and liability for payment, emphasizing the continued liability to pay for goods supplied. It held that the winding-up petition was maintainable despite a pending civil suit, citing the interests of stakeholders. The court admitted the winding-up petition due to the respondent's financial difficulties, prolonged factory closure, and acknowledgment of debt, ordering a citation to be published with an option to avoid publication upon payment within a specified period. Case-Laws Companies Law Fri, 23 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103205