https://www.taxtmi.com/caselaws?id=211454 A winding up petition based on alleged unpaid interior decoration charges was not maintainable because the record did not establish any contractual relationship between the petitioner and the company. In the absence of privity and a corresponding legal obligation, no enforceable debt was shown against the company, so inability to pay debts could not be invoked as a ground for winding up. The petition under Section 433(e) of the Companies Act, 1956 therefore failed. en-us Wed, 25 Jan 2012 00:00:00 +0530 Thu, 22 Mar 2012 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211454 A winding up petition based on alleged unpaid interior decoration charges was not maintainable because the record did not establish any contractual relationship between the petitioner and the company. In the absence of privity and a corresponding legal obligation, no enforceable debt was shown against the company, so inability to pay debts could not be invoked as a ground for winding up. The petition under Section 433(e) of the Companies Act, 1956 therefore failed. Case-Laws Companies Law Wed, 25 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211454