https://www.taxtmi.com/caselaws?id=459479 A company petition for winding up on inability to pay debts was considered against substantial payments already made and ongoing SARFAESI action by the secured creditor. The Court treated the remaining liability as capable of practical resolution rather than immediate winding up, and directed sale of the apartment to a third party. Sale proceeds were to be applied first towards the bank's dues and then towards the petitioner's dues with interest, protecting the interests of the company, the creditor, and the secured lender. en-us Tue, 08 Apr 2014 00:00:00 +0530 Mon, 16 Dec 2024 18:31:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459479 A company petition for winding up on inability to pay debts was considered against substantial payments already made and ongoing SARFAESI action by the secured creditor. The Court treated the remaining liability as capable of practical resolution rather than immediate winding up, and directed sale of the apartment to a third party. Sale proceeds were to be applied first towards the bank's dues and then towards the petitioner's dues with interest, protecting the interests of the company, the creditor, and the secured lender. Case-Laws Indian Laws Tue, 08 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459479