https://www.taxtmi.com/caselaws?id=196373 The court granted the petition seeking the winding up of the respondent company due to outstanding dues of Rs. 215,11,40,300 owed to foreign buyers. Despite the company's failure to respond to a statutory notice demanding payment, the court found it unable to pay its debts. The petition was admitted, and the court ordered the winding up of the company, appointing the Official Liquidator as the Liquidator with extensive powers under the Companies Act, 1956. The Official Liquidator was directed to act promptly without further notification. en-us Fri, 14 Nov 2014 00:00:00 +0530 Tue, 28 Nov 2017 21:25:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196373 The court granted the petition seeking the winding up of the respondent company due to outstanding dues of Rs. 215,11,40,300 owed to foreign buyers. Despite the company's failure to respond to a statutory notice demanding payment, the court found it unable to pay its debts. The petition was admitted, and the court ordered the winding up of the company, appointing the Official Liquidator as the Liquidator with extensive powers under the Companies Act, 1956. The Official Liquidator was directed to act promptly without further notification. Case-Laws Companies Law Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196373