https://www.taxtmi.com/caselaws?id=199510 A company's admitted liability was treated as a presently due debt for winding-up purposes, because the dispute concerned only the character of the payment as licence fee or rent and no material showed tenancy or any basis to deny present liability. The court upheld admission of the winding-up petition, finding a prima facie case had been made out. It also upheld appointment of the official liquidator as provisional liquidator under section 450, since the company was collecting and appropriating licence fees and there was a risk of prejudice to creditors if assets and receipts were not protected pending proceedings. en-us Fri, 23 Apr 1976 00:00:00 +0530 Mon, 05 Mar 2018 15:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199510 A company's admitted liability was treated as a presently due debt for winding-up purposes, because the dispute concerned only the character of the payment as licence fee or rent and no material showed tenancy or any basis to deny present liability. The court upheld admission of the winding-up petition, finding a prima facie case had been made out. It also upheld appointment of the official liquidator as provisional liquidator under section 450, since the company was collecting and appropriating licence fees and there was a risk of prejudice to creditors if assets and receipts were not protected pending proceedings. Case-Laws Companies Law Fri, 23 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199510