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Creditors Can File for Company Dissolution if Debts Unpaid u/s 434(1)(a) of Companies Law.

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Full Text of the Document

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....Winding up petition - A company might be in a precarious condition to pay off its creditor’s dues, that would be a “failure”. A high mighty, if willfully neglects to pay an admitted debt, that would certainly come within the mischief of “neglected” within the meaning of Section 434 (1)(a) - HC....

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