https://www.taxtmi.com/caselaws?id=109473 The court resolved the dispute over non-functioning machinery supplied by the creditor to the company by acknowledging the company's payment obligations and directing the company to provide security. The winding-up petition for specific bill amounts was admitted, with the company instructed to make payments in installments with interest. The creditor was permitted to file a suit for the balance amount if needed, with consequences outlined for payment default. Compliance with payment directives would result in the winding-up petition being permanently stayed, while default would lead to further proceedings. en-us Fri, 07 Nov 2003 00:00:00 +0530 Tue, 10 Apr 2012 13:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109473 The court resolved the dispute over non-functioning machinery supplied by the creditor to the company by acknowledging the company's payment obligations and directing the company to provide security. The winding-up petition for specific bill amounts was admitted, with the company instructed to make payments in installments with interest. The creditor was permitted to file a suit for the balance amount if needed, with consequences outlined for payment default. Compliance with payment directives would result in the winding-up petition being permanently stayed, while default would lead to further proceedings. Case-Laws Companies Law Fri, 07 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109473