https://www.taxtmi.com/caselaws?id=299286 In winding-up proceedings based on a statutory demand, collateral objections did not displace the creditor's case where indebtedness was otherwise established. The plea that the corporate guarantee was executed through the bank's Hong Kong branch, and thus lacked privity with the Mumbai office, was held untenable on the document's terms. The alleged insufficiency of stamp duty did not bar reliance on the guarantee in the company petition, since the court was concerned with inability to pay debts rather than enforcement of the instrument itself. Absence of the contractual certificate was not ative because liability was supported by acknowledgments, balance-sheet disclosure, and quantified dues, and the winding-up order was upheld. en-us Thu, 24 Nov 2016 00:00:00 +0530 Wed, 08 Dec 2021 19:50:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299286 In winding-up proceedings based on a statutory demand, collateral objections did not displace the creditor's case where indebtedness was otherwise established. The plea that the corporate guarantee was executed through the bank's Hong Kong branch, and thus lacked privity with the Mumbai office, was held untenable on the document's terms. The alleged insufficiency of stamp duty did not bar reliance on the guarantee in the company petition, since the court was concerned with inability to pay debts rather than enforcement of the instrument itself. Absence of the contractual certificate was not ative because liability was supported by acknowledgments, balance-sheet disclosure, and quantified dues, and the winding-up order was upheld. Case-Laws Companies Law Thu, 24 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299286