https://www.taxtmi.com/caselaws?id=271681 Recovery proceedings before the Debt Recovery Tribunal do not, by themselves, bar a winding up petition under the Companies Act, 1956, because the two remedies operate in different fields. Where the debt is crystallized, statutory notice remains unsatisfied, and the company's reply raises no bona fide dispute on substantial grounds, the default supports the statutory inference of inability to pay debts. On those facts, a winding up petition is maintainable and the company may be treated as liable to winding up. en-us Tue, 17 Nov 2015 00:00:00 +0530 Wed, 10 Feb 2016 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271681 Recovery proceedings before the Debt Recovery Tribunal do not, by themselves, bar a winding up petition under the Companies Act, 1956, because the two remedies operate in different fields. Where the debt is crystallized, statutory notice remains unsatisfied, and the company's reply raises no bona fide dispute on substantial grounds, the default supports the statutory inference of inability to pay debts. On those facts, a winding up petition is maintainable and the company may be treated as liable to winding up. Case-Laws Companies Law Tue, 17 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271681