https://www.taxtmi.com/caselaws?id=49271 A court-appointed receiver empowered under civil procedure to realise debts and institute suits may present a winding-up petition as an equitable mode of execution; such a receiver qualifies as a "creditor" under the Companies Act where authorised to sue or to demand payment and can thus be a petitioning creditor. A statutory demand satisfies the Act where it requires payment that, if made (including payment to a public collector that discharges liability), affords the debtor full discharge. A genuine and substantial bona fide dispute will defeat a petition, but here the pleaded dispute was found collusive and the petition was maintainable. en-us Mon, 21 Mar 1966 00:00:00 +0530 Mon, 09 Oct 2017 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49271 A court-appointed receiver empowered under civil procedure to realise debts and institute suits may present a winding-up petition as an equitable mode of execution; such a receiver qualifies as a "creditor" under the Companies Act where authorised to sue or to demand payment and can thus be a petitioning creditor. A statutory demand satisfies the Act where it requires payment that, if made (including payment to a public collector that discharges liability), affords the debtor full discharge. A genuine and substantial bona fide dispute will defeat a petition, but here the pleaded dispute was found collusive and the petition was maintainable. Case-Laws Companies Law Mon, 21 Mar 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49271