https://www.taxtmi.com/caselaws?id=245475 A decree-holder may present a winding up petition on a decretal debt without first exhausting execution proceedings or obtaining an unsatisfied return. Where the petition is founded on the decree itself, limitation runs from the enforceability of the decree, not from the original cause of action, and the petition was held within time. The respondent's failure to satisfy the decree, together with admissions of financial inability, lack of income, and absence of business, established commercial insolvency and inability to pay debts. The maintainability and limitation objections were rejected, and the winding up petition was admitted with interim protective orders. en-us Wed, 26 Mar 2014 00:00:00 +0530 Mon, 31 Mar 2014 09:50:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245475 A decree-holder may present a winding up petition on a decretal debt without first exhausting execution proceedings or obtaining an unsatisfied return. Where the petition is founded on the decree itself, limitation runs from the enforceability of the decree, not from the original cause of action, and the petition was held within time. The respondent's failure to satisfy the decree, together with admissions of financial inability, lack of income, and absence of business, established commercial insolvency and inability to pay debts. The maintainability and limitation objections were rejected, and the winding up petition was admitted with interim protective orders. Case-Laws Companies Law Wed, 26 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245475