https://www.taxtmi.com/caselaws?id=111221 The court found in favor of the petitioner, admitting the winding-up petition for the principal sum confirmed by the company's accountant. The court determined that the company's acknowledgment of the debt, as confirmed by the accountant, constituted a promise to pay under section 25(3) of the Contract Act, 1872. The court dismissed the company's argument regarding the accountant's authority, emphasizing the customary practice of accountants confirming accounts on behalf of companies. The judgment stressed the importance of clear communication in financial transactions and upheld legal principles governing promises to pay debts. en-us Wed, 21 Feb 2007 00:00:00 +0530 Sat, 21 Apr 2012 10:53:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111221 The court found in favor of the petitioner, admitting the winding-up petition for the principal sum confirmed by the company's accountant. The court determined that the company's acknowledgment of the debt, as confirmed by the accountant, constituted a promise to pay under section 25(3) of the Contract Act, 1872. The court dismissed the company's argument regarding the accountant's authority, emphasizing the customary practice of accountants confirming accounts on behalf of companies. The judgment stressed the importance of clear communication in financial transactions and upheld legal principles governing promises to pay debts. Case-Laws Companies Law Wed, 21 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111221