https://www.taxtmi.com/caselaws?id=289757 A winding up petition based on a running account remains maintainable where the respondent's own books, balance sheet, or creditor records contain an unqualified acknowledgement of a subsisting debt. Such acknowledgment can establish prima facie liability and defeat objections founded on limitation or disputed liability, provided the document is read in context. A mere denial, without proof, is insufficient to negate the admission. Failure to produce directed creditor records may justify an adverse inference. On these principles, the debt was treated as prima facie established and the company petition was admitted for further winding up proceedings. en-us Mon, 28 Feb 2005 00:00:00 +0530 Mon, 13 May 2024 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289757 A winding up petition based on a running account remains maintainable where the respondent's own books, balance sheet, or creditor records contain an unqualified acknowledgement of a subsisting debt. Such acknowledgment can establish prima facie liability and defeat objections founded on limitation or disputed liability, provided the document is read in context. A mere denial, without proof, is insufficient to negate the admission. Failure to produce directed creditor records may justify an adverse inference. On these principles, the debt was treated as prima facie established and the company petition was admitted for further winding up proceedings. Case-Laws Companies Law Mon, 28 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289757