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[Cites 0, Cited by 640] [Section 434(1)] [Section 434] [Entire Act]

Union of India - Subsection

Section 434(1)(a) in The Companies Act, 1956

(a)if a creditor, by assignment or otherwise, to whom the company is indebted in a sum exceeding [one lakh rupees] then due, has served on the company, by causing it to be delivered at its registered office, by registered post or otherwise, a demand under his hand requiring the company to pay the sum so due and the company has for three weeks thereafter neglected to pay the sum, or to secure or compound for it to the reasonable satisfaction of the creditor;