https://www.taxtmi.com/caselaws?id=460016 The HC ordered the winding up of the respondent company under sections 433(e) and 434(1)(a) of the Companies Act, 1956, due to its inability to pay an acknowledged debt of Rs. 25,63,531. The court found that the respondent's acknowledgment of the debt and failure to respond to demand notices justified the winding-up petition. The respondent's claim of temporary financial difficulty was insufficient to prevent the order. The court appointed the Official Liquidator of the HC of Madras as the provisional liquidator, while the dispute over interest was not separately adjudicated. en-us Thu, 26 Apr 2012 00:00:00 +0530 Wed, 08 Jan 2025 13:14:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460016 The HC ordered the winding up of the respondent company under sections 433(e) and 434(1)(a) of the Companies Act, 1956, due to its inability to pay an acknowledged debt of Rs. 25,63,531. The court found that the respondent's acknowledgment of the debt and failure to respond to demand notices justified the winding-up petition. The respondent's claim of temporary financial difficulty was insufficient to prevent the order. The court appointed the Official Liquidator of the HC of Madras as the provisional liquidator, while the dispute over interest was not separately adjudicated. Case-Laws Companies Law Thu, 26 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460016