https://www.taxtmi.com/caselaws?id=469819 Insolvency adjudication could not rest merely on non-payment of a decree debt where satisfactory proof of inability to pay other liabilities was lacking; mere default on the decree was insufficient. The later tender of the balance decretal amount, together with the substantial security already furnished, justified setting aside the adjudication, as the remaining dues and agreed costs could be adjusted from the security. The court therefore quashed the insolvency adjudication and allowed the creditor to recover the amount due from the security, with the balance returned to the debtor. en-us Tue, 11 Jan 1972 00:00:00 +0530 Mon, 06 Jul 2026 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469819 Insolvency adjudication could not rest merely on non-payment of a decree debt where satisfactory proof of inability to pay other liabilities was lacking; mere default on the decree was insufficient. The later tender of the balance decretal amount, together with the substantial security already furnished, justified setting aside the adjudication, as the remaining dues and agreed costs could be adjusted from the security. The court therefore quashed the insolvency adjudication and allowed the creditor to recover the amount due from the security, with the balance returned to the debtor. Case-Laws IBC Tue, 11 Jan 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469819