https://www.taxtmi.com/caselaws?id=105126 The court found the respondent liable for unpaid debts despite admission and ordered winding up proceedings under sections 433 and 434 of the Companies Act, 1956. The respondent's failure to repay the debt, lack of evidence for goods supplied in lieu of payment, and non-compliance with legal notice requirements led to an adverse inference. The court emphasized substantial compliance with notice provisions and admitted the petition, ordering publication of the winding up notice. Future directions included setting a timeline for further proceedings and granting a stay on publication upon depositing a specified amount in court. en-us Thu, 19 Nov 1998 00:00:00 +0530 Fri, 02 Mar 2012 15:57:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105126 The court found the respondent liable for unpaid debts despite admission and ordered winding up proceedings under sections 433 and 434 of the Companies Act, 1956. The respondent's failure to repay the debt, lack of evidence for goods supplied in lieu of payment, and non-compliance with legal notice requirements led to an adverse inference. The court emphasized substantial compliance with notice provisions and admitted the petition, ordering publication of the winding up notice. Future directions included setting a timeline for further proceedings and granting a stay on publication upon depositing a specified amount in court. Case-Laws Companies Law Thu, 19 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105126