https://www.taxtmi.com/caselaws?id=103577 A company may be wound up for inability to pay its debts where the petitioning creditor proves the debt, statutory notice is served and returned marked "refused," and the company enters no appearance to dispute the claim. Refusal of the notice gives rise to a presumption of service, and unrebutted material on record supports a finding that the debt is lawfully due and remains unpaid. On the facts stated, the petition was maintainable, and the company was ordered to be wound up with an official liquidator appointed to take charge of its assets, properties and records. en-us Wed, 21 Jan 1998 00:00:00 +0530 Thu, 23 Feb 2012 17:49:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103577 A company may be wound up for inability to pay its debts where the petitioning creditor proves the debt, statutory notice is served and returned marked "refused," and the company enters no appearance to dispute the claim. Refusal of the notice gives rise to a presumption of service, and unrebutted material on record supports a finding that the debt is lawfully due and remains unpaid. On the facts stated, the petition was maintainable, and the company was ordered to be wound up with an official liquidator appointed to take charge of its assets, properties and records. Case-Laws Companies Law Wed, 21 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103577