https://www.taxtmi.com/caselaws?id=196655 An unsatisfied money decree remained a debt due while it subsisted and was neither stayed nor set aside, so non-payment after statutory notice attracted the deeming fiction of inability to pay debts under the Companies Act, 1956. The company's claim of solvency did not defeat winding-up where it failed to show a bona fide dispute supported by a substantial defence. The limitation objection under Article 137 of the Limitation Act was rejected because the decree remained enforceable, and the Court found no basis to refuse relief in discretion under section 443. The company petition was therefore admitted to proceed further. en-us Wed, 28 Feb 2007 00:00:00 +0530 Mon, 11 Dec 2017 15:20:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196655 An unsatisfied money decree remained a debt due while it subsisted and was neither stayed nor set aside, so non-payment after statutory notice attracted the deeming fiction of inability to pay debts under the Companies Act, 1956. The company's claim of solvency did not defeat winding-up where it failed to show a bona fide dispute supported by a substantial defence. The limitation objection under Article 137 of the Limitation Act was rejected because the decree remained enforceable, and the Court found no basis to refuse relief in discretion under section 443. The company petition was therefore admitted to proceed further. Case-Laws Companies Law Wed, 28 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196655