https://www.taxtmi.com/caselaws?id=326669 The text examines contention on maintainability of winding-up petitions where statutory demand notices specified liquidated sums and the payment period expired; the governing principle applied is that a company is deemed unable to pay its debts when statutory demand requirements are complied with and claimed debts are not shown to be bona fide disputed on substantial grounds. Factual findings included partial payment by one respondent and absence of full discharge of demands; consequence recorded is admission of the petitions and appointment of the Official Liquidator as provisional liquidator, with proceedings continuing. en-us Tue, 05 Jan 2016 00:00:00 +0530 Fri, 22 Apr 2016 08:45:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326669 The text examines contention on maintainability of winding-up petitions where statutory demand notices specified liquidated sums and the payment period expired; the governing principle applied is that a company is deemed unable to pay its debts when statutory demand requirements are complied with and claimed debts are not shown to be bona fide disputed on substantial grounds. Factual findings included partial payment by one respondent and absence of full discharge of demands; consequence recorded is admission of the petitions and appointment of the Official Liquidator as provisional liquidator, with proceedings continuing. Case-Laws Companies Law Tue, 05 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326669