https://www.taxtmi.com/caselaws?id=108820 A winding-up petition based on alleged inability to pay debts was held not maintainable where the respondent had already been found to be a sick industrial company and rehabilitation proceedings were pending before the statutory forum. The Court treated the rehabilitation framework as the governing process for addressing the petitioner's outstanding claim and found it unnecessary to examine whether the ingredients of section 433(e) of the Companies Act, 1956 were otherwise established. As the proposed rehabilitation scheme was the appropriate statutory avenue, the petition was not entertained and was dismissed. en-us Wed, 04 Sep 2002 00:00:00 +0530 Wed, 04 Apr 2012 10:28:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108820 A winding-up petition based on alleged inability to pay debts was held not maintainable where the respondent had already been found to be a sick industrial company and rehabilitation proceedings were pending before the statutory forum. The Court treated the rehabilitation framework as the governing process for addressing the petitioner's outstanding claim and found it unnecessary to examine whether the ingredients of section 433(e) of the Companies Act, 1956 were otherwise established. As the proposed rehabilitation scheme was the appropriate statutory avenue, the petition was not entertained and was dismissed. Case-Laws Companies Law Wed, 04 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108820