https://www.taxtmi.com/caselaws?id=197696 A winding up petition was held not maintainable because the creditor had not served a valid statutory notice under Section 434 of the Companies Act, 1956. Notices issued only under Section 138 of the Negotiable Instruments Act did not satisfy the winding up notice requirement, as they did not give the company the requisite opportunity to pay before insolvency proceedings were initiated. A reservation of the right to pursue winding up did not cure the defect, and the notices were not composite notices in substance. en-us Tue, 20 Nov 2001 00:00:00 +0530 Fri, 12 Jan 2018 14:27:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197696 A winding up petition was held not maintainable because the creditor had not served a valid statutory notice under Section 434 of the Companies Act, 1956. Notices issued only under Section 138 of the Negotiable Instruments Act did not satisfy the winding up notice requirement, as they did not give the company the requisite opportunity to pay before insolvency proceedings were initiated. A reservation of the right to pursue winding up did not cure the defect, and the notices were not composite notices in substance. Case-Laws Companies Law Tue, 20 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197696