https://www.taxtmi.com/article/detailed?id=642 A company is deemed unable to pay debts when a creditor's statutory demand for a matured sum goes unpaid for three weeks, when execution on a decree is returned unsatisfied, or when the court is satisfied the company cannot meet its liabilities considering contingent and prospective obligations. Courts will not allow winding up merely as a debt-collection tool where a bona fide substantial dispute, arbitration agreement, or alternate remedy exists; conversely inadequate net worth or persistent failure to discharge liabilities supports a winding up petition. en-us Wed, 13 Jan 2010 00:00:00 +0530 Wed, 13 Jan 2010 06:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=642 A company is deemed unable to pay debts when a creditor's statutory demand for a matured sum goes unpaid for three weeks, when execution on a decree is returned unsatisfied, or when the court is satisfied the company cannot meet its liabilities considering contingent and prospective obligations. Courts will not allow winding up merely as a debt-collection tool where a bona fide substantial dispute, arbitration agreement, or alternate remedy exists; conversely inadequate net worth or persistent failure to discharge liabilities supports a winding up petition. Articles Corporate Laws / IBC / SEBI Wed, 13 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=642