https://www.taxtmi.com/caselaws?id=127002 A company's admitted failure to discharge an acknowledged debt after statutory notice can justify winding-up jurisdiction. The text notes that the respondent-company admitted liability in correspondence and objections, yet did not pay the outstanding dues. It also states that earlier suspension of the winding-up proceedings on account of a BIFR reference was recalled after the reference abated, so the petition proceeded on merits. On those facts, non-payment of the admitted debt was treated as sufficient to support winding up, and the petition was allowed. en-us Wed, 22 Sep 2010 00:00:00 +0530 Wed, 24 Sep 2014 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127002 A company's admitted failure to discharge an acknowledged debt after statutory notice can justify winding-up jurisdiction. The text notes that the respondent-company admitted liability in correspondence and objections, yet did not pay the outstanding dues. It also states that earlier suspension of the winding-up proceedings on account of a BIFR reference was recalled after the reference abated, so the petition proceeded on merits. On those facts, non-payment of the admitted debt was treated as sufficient to support winding up, and the petition was allowed. Case-Laws Companies Law Wed, 22 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127002