https://www.taxtmi.com/caselaws?id=391851 The court admitted the company petition seeking winding up of the respondent company due to unpaid debts. The respondent company was given 60 days to discharge the admitted debt of Rs. 1,77,03,540.68. The court allowed the petitioner to pursue the claim for interest in a separate proceeding. Failure to pay within the specified time would result in further legal action, including advertising the petition. The court emphasized the respondent company's liability for debts regardless of management changes and dismissed the fraud allegation regarding the acknowledgment of debt. en-us Wed, 11 Dec 2019 00:00:00 +0530 Thu, 07 May 2020 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391851 The court admitted the company petition seeking winding up of the respondent company due to unpaid debts. The respondent company was given 60 days to discharge the admitted debt of Rs. 1,77,03,540.68. The court allowed the petitioner to pursue the claim for interest in a separate proceeding. Failure to pay within the specified time would result in further legal action, including advertising the petition. The court emphasized the respondent company's liability for debts regardless of management changes and dismissed the fraud allegation regarding the acknowledgment of debt. Case-Laws Companies Law Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391851