https://www.taxtmi.com/caselaws?id=193688 The court found the winding-up petition maintainable, as proceedings before the Debts Recovery Tribunal and criminal prosecution did not bar the filing. The court held the respondent liable for the claimed amount and interest rate, considering it a commercial transaction. Despite the respondent's claims of financial soundness and creditworthiness, the court noted its failure to make payments and accumulating losses. Due to the respondent's inability to pay its dues, the court ordered the winding up of the company in the interests of unsecured creditors and public funds. The court issued various notices and appointed a Provisional Liquidator. en-us Wed, 25 Jul 2012 00:00:00 +0530 Sat, 12 Aug 2017 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193688 The court found the winding-up petition maintainable, as proceedings before the Debts Recovery Tribunal and criminal prosecution did not bar the filing. The court held the respondent liable for the claimed amount and interest rate, considering it a commercial transaction. Despite the respondent's claims of financial soundness and creditworthiness, the court noted its failure to make payments and accumulating losses. Due to the respondent's inability to pay its dues, the court ordered the winding up of the company in the interests of unsecured creditors and public funds. The court issued various notices and appointed a Provisional Liquidator. Case-Laws Indian Laws Wed, 25 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193688