https://www.taxtmi.com/caselaws?id=112244 A winding-up petition based on an alleged unpaid loan debt was found maintainable because contemporaneous acknowledgments, repayment deferrals and later correspondence, including cheques, prima facie established the debt. The company's denial was treated as vague and unsupported, as it did not effectively explain the acknowledgment letters, dispute the chairman's signature, or provide a credible alternative account such as share allotment. On that basis, the court admitted the petition, while allowing the company an opportunity to secure the claim with interest failing which the petition would proceed to advertisement. en-us Wed, 22 Aug 2007 00:00:00 +0530 Mon, 29 Dec 2014 20:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112244 A winding-up petition based on an alleged unpaid loan debt was found maintainable because contemporaneous acknowledgments, repayment deferrals and later correspondence, including cheques, prima facie established the debt. The company's denial was treated as vague and unsupported, as it did not effectively explain the acknowledgment letters, dispute the chairman's signature, or provide a credible alternative account such as share allotment. On that basis, the court admitted the petition, while allowing the company an opportunity to secure the claim with interest failing which the petition would proceed to advertisement. Case-Laws Companies Law Wed, 22 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112244