https://www.taxtmi.com/highlights?id=77604 The Delhi High Court considered the winding up of an unregistered foreign company for non-payment of outstanding dues u/s 433(e) and (f) read with Sections 434 and 439 of the Companies Act, 1956. The court found that the company's inability to pay its debts justified winding up proceedings u/s 583 of the Act. The court referenced the Supreme Court's decision in Rajah of Vizianagram case and Action Ispat case, supporting the transfer of winding up proceedings to the NCLT if at a nascent stage. Consequently, the court transferred the present winding up proceedings to the NCLT, disposing of the petition. en-us Tue, 21 May 2024 08:20:33 +0530 Tue, 21 May 2024 08:20:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77604 The Delhi High Court considered the winding up of an unregistered foreign company for non-payment of outstanding dues u/s 433(e) and (f) read with Sections 434 and 439 of the Companies Act, 1956. The court found that the company's inability to pay its debts justified winding up proceedings u/s 583 of the Act. The court referenced the Supreme Court's decision in Rajah of Vizianagram case and Action Ispat case, supporting the transfer of winding up proceedings to the NCLT if at a nascent stage. Consequently, the court transferred the present winding up proceedings to the NCLT, disposing of the petition. Highlights Companies Law Tue, 21 May 2024 08:20:33 +0530 https://www.taxtmi.com/highlights?id=77604