1985 (12) TMI 315 - HC - Companies Law

Circumstances in which a company may be wound up, Winding up - Company when deemed unable to pay its debts

Summary

The High Court of Delhi allowed the appeal in a case where a company petition was dismissed because the debt had become time-barred. The court held that a petition for winding up remains maintainable even if the debt is time-barred at the time of the order. The court can still grant relief based on the facts of the case. No costs were awarded in this decision. (Case citation: 1985 (12) TMI 315 - HIGH COURT OF DELHI)