TaxTMI 
TaxTMI 
1934 (8) TMI 12
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....ad failed to pay a debt of some Rs. 72,000 due for royalties and rent. For the company it is stated in the affidavit that a claim by a third party who is alleged to have a title paramount to that of the petitioning company is apprehended, and that as the lease has not been registered the petitioners are not entitled to claim rent or royalties. As far as the first ground is concerned an alleged app....
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....e registration as regards the parties admitting execution, but that has not been done. The delay in preparing the lease has been caused by difficulties in the company's title. For a winding up order the debt must be presently payable and the title of the petitioner complete. Clearly it is insufficient to show that some other debt is due or even that there is something over Rs. SOO due in respect o....
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....rent is permissible when the lease is not registered, for that would be to repeal part of the Act. It may be that the Syndicate would have no defence in a suit for specific performance of the agreement, and in fact it is not suggested that the Syndicate has ever refused to execute that lease but the petitioning company is in the unfortunate position, that without completing the registration of the....