https://www.taxtmi.com/caselaws?id=103659 The court admitted the petition for winding-up the respondent company, requiring a deposit of Rs. 75 lakhs in three installments. Failure to comply would lead to advertising the petition. The court found the respondent's defenses regarding indebtedness and financial soundness lacking in good faith, justifying the use of a winding-up petition for debt recovery. The case was scheduled for further orders on May 22, 1998. en-us Tue, 28 Apr 1998 00:00:00 +0530 Fri, 24 Feb 2012 12:09:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103659 The court admitted the petition for winding-up the respondent company, requiring a deposit of Rs. 75 lakhs in three installments. Failure to comply would lead to advertising the petition. The court found the respondent's defenses regarding indebtedness and financial soundness lacking in good faith, justifying the use of a winding-up petition for debt recovery. The case was scheduled for further orders on May 22, 1998. Case-Laws Companies Law Tue, 28 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103659