https://www.taxtmi.com/caselaws?id=104101 A winding-up petition under section 434(1)(c) of the Companies Act, 1956 required proof not only of the claimed debt but also that, after considering contingent and prospective liabilities, the company was commercially insolvent and unable to pay its debts. The allegation of insolvency was denied, and the petitioner produced no material on the company's overall financial position or liabilities. Mere dishonour of cheques and correspondence seeking balance-sheets were insufficient without proper pleadings and supporting evidence, so the petition was not made out. en-us Wed, 17 Feb 1999 00:00:00 +0530 Mon, 27 Feb 2012 16:57:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104101 A winding-up petition under section 434(1)(c) of the Companies Act, 1956 required proof not only of the claimed debt but also that, after considering contingent and prospective liabilities, the company was commercially insolvent and unable to pay its debts. The allegation of insolvency was denied, and the petitioner produced no material on the company's overall financial position or liabilities. Mere dishonour of cheques and correspondence seeking balance-sheets were insufficient without proper pleadings and supporting evidence, so the petition was not made out. Case-Laws Companies Law Wed, 17 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104101