Home Highlights April 2016 Year 2016 This

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1. Winding up petition - the machinery of winding up should not be allowed to be utilised merely as a means of realizing its debts. - HC

2. Winding up of company - Dues not paid - winding up petition is not a legitimate means of seeking to enforce payment of the debt which is bona fide disputed by the company - HC

3. Seeking winding up of respondent company - Failure to pay outstanding dues - section 434 of the Companies Act, 1956 - The court noted the substantial unpaid amount...

4. Winding up of the respondent company seeked - It is well settled that proceeding for winding up, is not a proceeding for the recovery of outstanding dues. Nor for that...

5. The Delhi High Court considered the winding up of an unregistered foreign company for non-payment of outstanding dues u/s 433(e) and (f) read with Sections 434 and 439...

6. Winding up of Company - Inability to pay its debts - An Arbitrator, notwithstanding, any agreement between the parties, would have no jurisdiction to order winding up of...

7. Seeking for an order of winding up of the respondent-company - As pointed out that striking of the name of the company should not come in the way of passing an order of...

8. Winding up petition - inability to pay debts - The disputes to the debt due as raised in the reply to the winding up petition are a mere after thought and without...

9. Winding up of the appellant company - Undeniably, in cases where the defence against the claim of debt is found to be moonshine or a sham, the petition for winding up...

10. Petition for Winding up – Demurrage Charges - Winding up petition was not a legitimate means to seek enforcement of a debt which was genuinely and bona fide disputed by...

11. Recovery of dues from company - employees dues - priority claim on debts - - Section 529A of the Companies Act, which gives workers’ dues a priority over all other...

12. Winding up petition - non reply to statutory notice - commercial insolvency - as each of the companies are unable to discharge their debts, are commercially insolvent...

13. Winding up petition - recovery of debt - An effort was made to mislead the Company Judge - The petition for winding up shall stand admitted - HC

14. Bad Debts – The manufacturer has to bear the loss due to sedimentation - claim allowed - AT

15. Permanent stay of winding up proceedings - Company failed to pay the debts - going concert - BIFR sanctioned the scheme of revival - This court cannot lose sight of the...