https://www.taxtmi.com/caselaws?id=284451 An admitted and unrebutted debt, coupled with continued non-payment after statutory notice, justified winding up relief under the Companies Act, 1956. The company filed no reply and remained unrepresented, leaving the quantified liability from supply and reprocessing transactions undisputed. The Court also relied on BIFR material, including an opinion recommending winding up under the sick industrial companies regime. With the debt remaining due and payable and no rebuttal to the demand, the statutory conditions for winding up were satisfied, and the petition was allowed. en-us Thu, 30 Aug 2007 00:00:00 +0530 Tue, 19 Nov 2019 15:11:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284451 An admitted and unrebutted debt, coupled with continued non-payment after statutory notice, justified winding up relief under the Companies Act, 1956. The company filed no reply and remained unrepresented, leaving the quantified liability from supply and reprocessing transactions undisputed. The Court also relied on BIFR material, including an opinion recommending winding up under the sick industrial companies regime. With the debt remaining due and payable and no rebuttal to the demand, the statutory conditions for winding up were satisfied, and the petition was allowed. Case-Laws Companies Law Thu, 30 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284451