https://www.taxtmi.com/caselaws?id=110439 The court admitted the winding-up petition filed by the petitioners against the company due to its default in paying the balance sum of Rs. 22.26 lakhs as per the memorandum of understanding. Despite acknowledging the complexity of the software device and potential breaches by the petitioners, the court found that the company's inability to pay the outstanding amount established a prima facie case for winding up. Advertisements were directed to be published in specific publications, and a returnable date was set, with instructions for the petitioners not to publish any advertisements for a specified period. en-us Tue, 29 Jun 2004 00:00:00 +0530 Mon, 16 Apr 2012 17:59:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110439 The court admitted the winding-up petition filed by the petitioners against the company due to its default in paying the balance sum of Rs. 22.26 lakhs as per the memorandum of understanding. Despite acknowledging the complexity of the software device and potential breaches by the petitioners, the court found that the company's inability to pay the outstanding amount established a prima facie case for winding up. Advertisements were directed to be published in specific publications, and a returnable date was set, with instructions for the petitioners not to publish any advertisements for a specified period. Case-Laws Companies Law Tue, 29 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110439