https://www.taxtmi.com/caselaws?id=106733 A consent order in winding-up proceedings recording an admitted liability and a managing director's guarantee was treated as enforceable like a decree under section 634 of the Companies Act, 1956, enabling execution and insolvency proceedings against the guarantor under section 9 of the Presidency Towns Insolvency Act, 1909. The article also states that the company court's powers under section 443 of the Companies Act, 1956, read with the Companies (Court) Rules, 1959, extend to directing payment of an admitted debt to the petitioning creditor where liability is undisputed and payment was consented to. It distinguishes cases involving disputed liability and rejects objections based on fraudulent preference and lack of jurisdiction. en-us Mon, 23 Jul 2001 00:00:00 +0530 Thu, 15 Mar 2012 14:23:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106733 A consent order in winding-up proceedings recording an admitted liability and a managing director's guarantee was treated as enforceable like a decree under section 634 of the Companies Act, 1956, enabling execution and insolvency proceedings against the guarantor under section 9 of the Presidency Towns Insolvency Act, 1909. The article also states that the company court's powers under section 443 of the Companies Act, 1956, read with the Companies (Court) Rules, 1959, extend to directing payment of an admitted debt to the petitioning creditor where liability is undisputed and payment was consented to. It distinguishes cases involving disputed liability and rejects objections based on fraudulent preference and lack of jurisdiction. Case-Laws Companies Law Mon, 23 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106733