https://www.taxtmi.com/caselaws?id=199322 Where an admitted liability is settled in winding-up proceedings, the Court may mould the order to reflect the parties' arrangement and secure payment by instalments. Here, the parties agreed to payment in 12 equal monthly instalments, and the Court modified the earlier direction accordingly, keeping the petition permanently stayed upon compliance. A default mechanism was preserved so the petition could be advertised again if any instalment was not paid, while gazette publication was dispensed with and no order as to costs was made. en-us Mon, 25 Feb 2013 00:00:00 +0530 Mon, 26 Feb 2018 14:20:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199322 Where an admitted liability is settled in winding-up proceedings, the Court may mould the order to reflect the parties' arrangement and secure payment by instalments. Here, the parties agreed to payment in 12 equal monthly instalments, and the Court modified the earlier direction accordingly, keeping the petition permanently stayed upon compliance. A default mechanism was preserved so the petition could be advertised again if any instalment was not paid, while gazette publication was dispensed with and no order as to costs was made. Case-Laws Companies Law Mon, 25 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199322