https://www.taxtmi.com/caselaws?id=366860 The Calcutta High Court admitted a winding-up application against a company under Section 433(e) of the Companies Act, 1956, due to its inability to pay debts amounting to Rs. 1,74,65,867. The court rejected the company's defense of lack of knowledge regarding an account confirmation statement and its failure to respond to a statutory notice, leading to a presumption of admission of the debt. The company was directed to pay the outstanding amount in installments, emphasizing its failure to provide a genuine defense. en-us Fri, 10 Aug 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:43:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366860 The Calcutta High Court admitted a winding-up application against a company under Section 433(e) of the Companies Act, 1956, due to its inability to pay debts amounting to Rs. 1,74,65,867. The court rejected the company's defense of lack of knowledge regarding an account confirmation statement and its failure to respond to a statutory notice, leading to a presumption of admission of the debt. The company was directed to pay the outstanding amount in installments, emphasizing its failure to provide a genuine defense. Case-Laws Companies Law Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366860