https://www.taxtmi.com/caselaws?id=108519 A statutory demand notice, an uncontroverted response seeking time to pay, and contemporaneous correspondence confirming the balance and prioritising settlement were treated as acknowledgements of liability. The text explains that, where such material is unsupported by credible contemporaneous evidence to the contrary, the statutory presumption of inability to pay debts arises and is not rebutted. It also notes that assertions that acknowledgements were obtained in haste, or that the other side had first breached the agreement, will not displace that presumption without reliable supporting material. en-us Tue, 18 Mar 2003 00:00:00 +0530 Mon, 02 Apr 2012 10:14:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108519 A statutory demand notice, an uncontroverted response seeking time to pay, and contemporaneous correspondence confirming the balance and prioritising settlement were treated as acknowledgements of liability. The text explains that, where such material is unsupported by credible contemporaneous evidence to the contrary, the statutory presumption of inability to pay debts arises and is not rebutted. It also notes that assertions that acknowledgements were obtained in haste, or that the other side had first breached the agreement, will not displace that presumption without reliable supporting material. Case-Laws Companies Law Tue, 18 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108519