1986 (9) TMI 367 - HC - Companies Law

Winding up - Suits stayed on winding-up order, Debts of all descriptions to be admitted to proof

Summary

The judgment dismissed three petitions filed under section 446 of the Companies Act, 1956 for recovery of debts from a company in liquidation. The court ruled that the remedy for unsecured creditors is to prove their debts before the official liquidator under section 528 of the Act, rather than filing a petition under section 446. The petitions were dismissed without costs. (Case: 1986 (9) TMI 367 - High Court of Punjab and Haryana)