https://www.taxtmi.com/caselaws?id=342578 A winding up petition based on dishonoured cheques and acknowledgment of liability was held not barred by the Bombay Money Lenders Act, 1946, because the proceeding was not a suit for recovery of money and no material showed that the petitioner was carrying on money-lending business without a licence. Service objections also failed where statutory notices were issued at the registered office and administrative address, and the respondent had replied without disputing service. Defences that the cheques were only collateral security and that presentment was invalid were rejected in light of earlier proceedings and the admitted indebtedness, so the petitions were admitted and directed to proceed. en-us Fri, 05 May 2017 00:00:00 +0530 Mon, 08 May 2017 08:24:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342578 A winding up petition based on dishonoured cheques and acknowledgment of liability was held not barred by the Bombay Money Lenders Act, 1946, because the proceeding was not a suit for recovery of money and no material showed that the petitioner was carrying on money-lending business without a licence. Service objections also failed where statutory notices were issued at the registered office and administrative address, and the respondent had replied without disputing service. Defences that the cheques were only collateral security and that presentment was invalid were rejected in light of earlier proceedings and the admitted indebtedness, so the petitions were admitted and directed to proceed. Case-Laws Companies Law Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342578