https://www.taxtmi.com/caselaws?id=274145 The court dismissed the winding up petition filed under sections 433(e), 434(1)(a), and 439(1)(b) of the Companies Act, 1956 due to unpaid debts, amounting to 369,090.45 USD, as the debts were found to be time-barred under Article 14 of the Limitation Act. Relying on precedents, the court emphasized that winding up proceedings cannot be used to recover debts beyond the limitation period. The judgment in Interactive Media & Communication Solution Pvt. Ltd. v. Go Airlines Ltd. was cited to support the principle that a winding up petition is maintainable only for legally recoverable debts. en-us Thu, 26 Apr 2018 00:00:00 +0530 Tue, 31 Jul 2018 07:42:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274145 The court dismissed the winding up petition filed under sections 433(e), 434(1)(a), and 439(1)(b) of the Companies Act, 1956 due to unpaid debts, amounting to 369,090.45 USD, as the debts were found to be time-barred under Article 14 of the Limitation Act. Relying on precedents, the court emphasized that winding up proceedings cannot be used to recover debts beyond the limitation period. The judgment in Interactive Media & Communication Solution Pvt. Ltd. v. Go Airlines Ltd. was cited to support the principle that a winding up petition is maintainable only for legally recoverable debts. Case-Laws Companies Law Thu, 26 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274145