https://www.taxtmi.com/caselaws?id=171166 The High Court ordered the winding-up of the respondent company due to its inability to pay debts, as evidenced by uncontroverted proof of outstanding dues. The Court found the respondent neglected to pay debts and was unable to do so, leading to immediate winding-up with the Official Liquidator taking over assets as per the Companies Act. Additionally, unpaid debts for goods sold and credit facilities further supported the decision, with the respondent failing to provide a defense. Consequently, all petitions were disposed of in favor of winding-up the respondent company. en-us Thu, 28 Feb 2008 00:00:00 +0530 Mon, 13 Jul 2015 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171166 The High Court ordered the winding-up of the respondent company due to its inability to pay debts, as evidenced by uncontroverted proof of outstanding dues. The Court found the respondent neglected to pay debts and was unable to do so, leading to immediate winding-up with the Official Liquidator taking over assets as per the Companies Act. Additionally, unpaid debts for goods sold and credit facilities further supported the decision, with the respondent failing to provide a defense. Consequently, all petitions were disposed of in favor of winding-up the respondent company. Case-Laws Indian Laws Thu, 28 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171166