https://www.taxtmi.com/caselaws?id=196277 An amalgamated company may enforce a transferor's debt and maintain a winding-up petition where the sanctioned merger scheme transfers all assets, rights, liabilities and obligations to it without further act or deed. Parallel proceedings under the SARFAESI Act or arbitration do not, by themselves, bar a winding-up petition, because those remedies operate in different fields and winding up is treated as a non-arbitrable matter within the High Court's jurisdiction. Where the debt is admitted and the company's financial condition shows inability to pay, the petition may be admitted unless the debt is bona fide disputed on substantial grounds or winding up would be otherwise unjustified. en-us Tue, 17 Jun 2014 00:00:00 +0530 Fri, 24 Nov 2017 06:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196277 An amalgamated company may enforce a transferor's debt and maintain a winding-up petition where the sanctioned merger scheme transfers all assets, rights, liabilities and obligations to it without further act or deed. Parallel proceedings under the SARFAESI Act or arbitration do not, by themselves, bar a winding-up petition, because those remedies operate in different fields and winding up is treated as a non-arbitrable matter within the High Court's jurisdiction. Where the debt is admitted and the company's financial condition shows inability to pay, the petition may be admitted unless the debt is bona fide disputed on substantial grounds or winding up would be otherwise unjustified. Case-Laws Companies Law Tue, 17 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196277