https://www.taxtmi.com/caselaws?id=171233 A winding-up petition under Section 433(e) lies where the debt is not bona fide disputed and the company fails to pay after statutory demand. On the facts discussed, the respondent's reconciliation plea lacked supporting accounts and was treated as a mere moonshine, so non-payment amounted to neglect to pay under Section 434(1)(a). Objections based on authorisation and Rule 95 were treated as curable procedural irregularities and rejected. The availability of a civil suit did not bar the petition, commercial solvency alone did not rebut the presumption of inability to pay, and clauses (a) to (c) of Section 434(1) were treated as alternative, not cumulative. en-us Tue, 24 Apr 2012 00:00:00 +0530 Tue, 14 Jul 2015 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171233 A winding-up petition under Section 433(e) lies where the debt is not bona fide disputed and the company fails to pay after statutory demand. On the facts discussed, the respondent's reconciliation plea lacked supporting accounts and was treated as a mere moonshine, so non-payment amounted to neglect to pay under Section 434(1)(a). Objections based on authorisation and Rule 95 were treated as curable procedural irregularities and rejected. The availability of a civil suit did not bar the petition, commercial solvency alone did not rebut the presumption of inability to pay, and clauses (a) to (c) of Section 434(1) were treated as alternative, not cumulative. Case-Laws Companies Law Tue, 24 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171233