https://www.taxtmi.com/caselaws?id=213880 Winding up was sought under the Companies Act on the ground of inability to pay debts where a lender proved a loan agreement, instalment schedule and statutory notice and the debtor made only partial payments before defaulting; the indebtedness and failure to discharge liability were undisputed on prima facie material. The court treated undisputed commercial insolvency as establishing inability to pay debts, allowed the petition, ordered winding up, appointed the Official Liquidator to realise assets and recover dues, and directed deposit for initial liquidation expenses and publication of the winding up order. en-us Thu, 12 Apr 2012 00:00:00 +0530 Sat, 09 Jun 2012 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213880 Winding up was sought under the Companies Act on the ground of inability to pay debts where a lender proved a loan agreement, instalment schedule and statutory notice and the debtor made only partial payments before defaulting; the indebtedness and failure to discharge liability were undisputed on prima facie material. The court treated undisputed commercial insolvency as establishing inability to pay debts, allowed the petition, ordered winding up, appointed the Official Liquidator to realise assets and recover dues, and directed deposit for initial liquidation expenses and publication of the winding up order. Case-Laws Companies Law Thu, 12 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213880