https://www.taxtmi.com/caselaws?id=357166 The court ordered the winding up of four companies due to their inability to discharge debts and commercial insolvency. Despite a consent order for payment, the respondent defaulted, leading to legal proceedings. The court rejected the respondent's defenses regarding insurance claims and creditor status, citing legal principles on subrogation. The respondent's false statements and non-response to statutory notice supported the decision. The companies' commercial insolvency was evident, leading to the appointment of the Official Liquidator with full powers under the Companies Act, 1956. en-us Thu, 11 Jan 2018 00:00:00 +0530 Mon, 19 Mar 2018 07:26:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357166 The court ordered the winding up of four companies due to their inability to discharge debts and commercial insolvency. Despite a consent order for payment, the respondent defaulted, leading to legal proceedings. The court rejected the respondent's defenses regarding insurance claims and creditor status, citing legal principles on subrogation. The respondent's false statements and non-response to statutory notice supported the decision. The companies' commercial insolvency was evident, leading to the appointment of the Official Liquidator with full powers under the Companies Act, 1956. Case-Laws Companies Law Thu, 11 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357166