https://www.taxtmi.com/caselaws?id=220934 An acknowledged debt reflected in the company's audited balance sheet, together with an unsupported defence of defective and returned goods, was treated as sufficient to show inability to pay debts and justify admission of the winding-up petition. The court also found special circumstances to dispense with prior notice and appoint a provisional liquidator, relying on the long pendency of the petition, earlier requests for interim protection, and the respondent's non-appearance. Protective relief was directed to preserve the company's assets and records pending further proceedings. en-us Thu, 03 Jan 2013 00:00:00 +0530 Fri, 15 Feb 2013 06:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220934 An acknowledged debt reflected in the company's audited balance sheet, together with an unsupported defence of defective and returned goods, was treated as sufficient to show inability to pay debts and justify admission of the winding-up petition. The court also found special circumstances to dispense with prior notice and appoint a provisional liquidator, relying on the long pendency of the petition, earlier requests for interim protection, and the respondent's non-appearance. Protective relief was directed to preserve the company's assets and records pending further proceedings. Case-Laws Companies Law Thu, 03 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220934