https://www.taxtmi.com/caselaws?id=244676 The Court granted the petition for winding up the respondent-Company under Sections 433 and 434 of the Companies Act, 1956. The Court found the respondent-Company to be commercially insolvent based on the outstanding loan amount and failure to repay despite acknowledging the debt. The Official Liquidator was appointed as the Liquidator to take charge of the company's assets and initiate the winding-up process as per the Companies Act, with a report due within three months. en-us Tue, 12 Nov 2013 00:00:00 +0530 Wed, 05 Mar 2014 16:44:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244676 The Court granted the petition for winding up the respondent-Company under Sections 433 and 434 of the Companies Act, 1956. The Court found the respondent-Company to be commercially insolvent based on the outstanding loan amount and failure to repay despite acknowledging the debt. The Official Liquidator was appointed as the Liquidator to take charge of the company's assets and initiate the winding-up process as per the Companies Act, with a report due within three months. Case-Laws Companies Law Tue, 12 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244676