https://www.taxtmi.com/caselaws?id=103406 The court admitted the petition for winding up the company under Section 433 of the Companies Act, ruling against the respondent company due to its failure to meet current liabilities despite claiming commercial solvency. The court emphasized the discretionary nature of winding up orders and held that when debts are undisputed, a company cannot avoid winding up by asserting the ability to pay without doing so. The court found the respondent company unable to pay its debts in a commercial sense and directed publication of the citation for winding up proceedings. en-us Thu, 13 Mar 1997 00:00:00 +0530 Wed, 22 Feb 2012 16:45:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103406 The court admitted the petition for winding up the company under Section 433 of the Companies Act, ruling against the respondent company due to its failure to meet current liabilities despite claiming commercial solvency. The court emphasized the discretionary nature of winding up orders and held that when debts are undisputed, a company cannot avoid winding up by asserting the ability to pay without doing so. The court found the respondent company unable to pay its debts in a commercial sense and directed publication of the citation for winding up proceedings. Case-Laws Companies Law Thu, 13 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103406