https://www.taxtmi.com/caselaws?id=774506 Bombay HC dismissed appellant's appeal challenging winding up order. Appellant company was unable to pay admitted debt of Rs. 2,83,70,700/- to respondent Government undertaking, evidenced by demand promissory note executed in January 1999. Court found appellant's grounds opposing winding up were afterthought and not bona fide, raised only after statutory notice in 2001 despite transaction beginning in 1992. Appellant never denied liability until winding up proceedings commenced. Court held that acquittal in criminal proceedings under Section 139 Negotiable Instruments Act cannot be relied upon in civil proceedings due to different standards of proof. Winding up order dated 11 October 2007 was upheld and interim order vacated. en-us Wed, 09 Jul 2025 00:00:00 +0530 Thu, 10 Jul 2025 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774506 Bombay HC dismissed appellant's appeal challenging winding up order. Appellant company was unable to pay admitted debt of Rs. 2,83,70,700/- to respondent Government undertaking, evidenced by demand promissory note executed in January 1999. Court found appellant's grounds opposing winding up were afterthought and not bona fide, raised only after statutory notice in 2001 despite transaction beginning in 1992. Appellant never denied liability until winding up proceedings commenced. Court held that acquittal in criminal proceedings under Section 139 Negotiable Instruments Act cannot be relied upon in civil proceedings due to different standards of proof. Winding up order dated 11 October 2007 was upheld and interim order vacated. Case-Laws Companies Law Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774506