Winding up of the appellant company - Undeniably, in cases where ...

Case Laws Companies Law

February 25, 2023

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 would be maintainable on account of inability to pay the debt. However, the facts of the case must clearly establish that there is no plausible defence available to the debtor company. The defence so raised has been solely for the purposes of avoiding repayment of admitted debt and in most cases, to camouflage the inability to do so. - HC

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Winding up of the appellant company - Undeniably, in cases where ...

Case Laws Companies Law

February 25, 2023

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