https://www.taxtmi.com/caselaws?id=459943 The court admitted the winding-up petition against the respondent company, determining that it was unable to pay its debts under Section 434 of the Companies Act, 1956. The respondent failed to respond to a statutory demand notice and did not contest the petitioner's claims, which included an acknowledged debt of Rs. 50,46,712/-. As a result, the court appointed a provisional liquidator and ordered the publication of the winding-up order, reinforcing the principle that failure to address acknowledged debts can lead to statutory consequences. en-us Wed, 09 Jul 2014 00:00:00 +0530 Sat, 04 Jan 2025 14:47:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459943 The court admitted the winding-up petition against the respondent company, determining that it was unable to pay its debts under Section 434 of the Companies Act, 1956. The respondent failed to respond to a statutory demand notice and did not contest the petitioner's claims, which included an acknowledged debt of Rs. 50,46,712/-. As a result, the court appointed a provisional liquidator and ordered the publication of the winding-up order, reinforcing the principle that failure to address acknowledged debts can lead to statutory consequences. Case-Laws Companies Law Wed, 09 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459943