https://www.taxtmi.com/caselaws?id=104905 The Court orders the winding up of the respondent-company known as 'Motorol (India) Ltd.' under the Companies Act, 1956, due to its inability to pay debts as per sections 433 and 434. The Official Liquidator is appointed to oversee the liquidation process, with instructions to comply with statutory obligations. Despite efforts by petitioning creditors to recover debts through various means, including bounced cheques and unfulfilled promises, the Court finds the respondent-company's actions demonstrate its inability to pay debts, leading to the decision for winding up. The Court grants a stay on the orders until 31-8-1999 to allow the company to pursue appeals. en-us Thu, 19 Aug 1999 00:00:00 +0530 Thu, 01 Mar 2012 17:21:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104905 The Court orders the winding up of the respondent-company known as 'Motorol (India) Ltd.' under the Companies Act, 1956, due to its inability to pay debts as per sections 433 and 434. The Official Liquidator is appointed to oversee the liquidation process, with instructions to comply with statutory obligations. Despite efforts by petitioning creditors to recover debts through various means, including bounced cheques and unfulfilled promises, the Court finds the respondent-company's actions demonstrate its inability to pay debts, leading to the decision for winding up. The Court grants a stay on the orders until 31-8-1999 to allow the company to pursue appeals. Case-Laws Companies Law Thu, 19 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104905