1914 (8) TMI 2

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....etary and Manager, Mr. Kevaldas, and his benamidars, his wife and daughter. The petitioner-appellant gave the Company notice on the 7th of October 1912 and demanded payment. On the 24th of October 1912 the Company replied in a rather vaguely worded letter, the general content of which, however, clearly indicates the line of defence subsequently adopted by the Company. On the 15th of November the p....

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....tainly appear to be rather widely and loosely expressed, but in no case could such general dicta be carried further than the facts of the case would warrant. If any general rule is to be laid down at all, it is easily obtained from the Statute law. The principle upon which a Company is to be wound up, for all the purposes with which we are now concerned, is simply its inability to pay its just deb....