https://www.taxtmi.com/caselaws?id=182540 A sick industrial company's winding-up reference was rejected because the secured and statutory dues were substantially settled, including clearance by the bank, State Financial Corporation, provident fund and sales tax authorities, and other creditors were addressed through settlements. The Court accepted that the remaining liabilities were either under negotiation or not supported by adequate material. It also required an affidavit and indemnity bond undertaking to clear any residual amounts, after which the proceedings were closed. en-us Fri, 28 Feb 2014 00:00:00 +0530 Thu, 12 May 2016 23:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182540 A sick industrial company's winding-up reference was rejected because the secured and statutory dues were substantially settled, including clearance by the bank, State Financial Corporation, provident fund and sales tax authorities, and other creditors were addressed through settlements. The Court accepted that the remaining liabilities were either under negotiation or not supported by adequate material. It also required an affidavit and indemnity bond undertaking to clear any residual amounts, after which the proceedings were closed. Case-Laws Companies Law Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182540