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1 - 4 of 4 (0.16 seconds)The Companies Act, 1956
Section 434 in The Companies Act, 1956 [Entire Act]
M/S.Iba Health (India) Private Ltd vs M/S.Info Drive Systems Sdn Bhd on 21 October, 2009
"23 The principles laid down in the
abovementioned cases indicate that if the debt is bona
fide disputed, there cannot be `neglect to pay' within
the meaning of Section 433 (1)(a) of the Companies
Act, 1956. If there is no neglect, the deeming
provision does not come into play and the winding up
on the ground that the company is unable to pay its
debts is not substantiated and non-payment of the
amount of such a bona fide disputed debt cannot be
termed as "neglect to pay" so as to incur the liability
under Section 433(e) read with Section 434 (1)(a) of
the Companies Act, 1956."
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