https://www.taxtmi.com/caselaws?id=109353 Winding up petitions under sections 433(e) and 433(f) are predicated on inability to pay debts demonstrated by an admitted undisputed debt, cessation of business, multiple creditors with similar claims, absence of viable revival or repayment proposals, and liabilities exceeding assets such that the company's substratum for carrying on business has failed; on these factual and legal grounds the petition is allowed and the respondent company is ordered wound up with appointment of the Official Liquidator to administer liquidation. en-us Fri, 06 Feb 2004 00:00:00 +0530 Mon, 09 Apr 2012 11:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109353 Winding up petitions under sections 433(e) and 433(f) are predicated on inability to pay debts demonstrated by an admitted undisputed debt, cessation of business, multiple creditors with similar claims, absence of viable revival or repayment proposals, and liabilities exceeding assets such that the company's substratum for carrying on business has failed; on these factual and legal grounds the petition is allowed and the respondent company is ordered wound up with appointment of the Official Liquidator to administer liquidation. Case-Laws Companies Law Fri, 06 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109353