Home Highlights February 2013 Year 2013 This

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1. Winding up petition - machinery for winding up will not be allowed to utilize merely as a means for realizing its debts due from a company - 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. 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...

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. 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...

6. 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...

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

8. Winding up petition - respondent is unable to pay its debts - The disputed facts and the allegations of fraud, forgery and fabrication cannot be considered in the...

9. 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...

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

11. Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as...

12. Winding up of respondent company under Section 433 (e) on the ground of inability to pay the debt - proof of bonafide debt - It is settled position in law that winding...

13. Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

14. 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...

15. Initiation of CIRP - The debt has been defined in Section 3(11) means a liability or obligation in respect of a claim which is due from any person and includes a...