https://www.taxtmi.com/caselaws?id=288162 A winding-up petition based on an admitted debt and a prior consent arrangement for instalment payments was pursued after the company defaulted. On the facts recorded, the company was found commercially insolvent and unable to pay its debts, and counsel stated on instructions that it should be wound up. The Court accordingly ordered winding up of the company and appointed the official liquidator to take charge of its assets and records. en-us Thu, 24 Jul 2014 00:00:00 +0530 Sat, 23 May 2020 10:14:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288162 A winding-up petition based on an admitted debt and a prior consent arrangement for instalment payments was pursued after the company defaulted. On the facts recorded, the company was found commercially insolvent and unable to pay its debts, and counsel stated on instructions that it should be wound up. The Court accordingly ordered winding up of the company and appointed the official liquidator to take charge of its assets and records. Case-Laws Companies Law Thu, 24 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288162