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M/S Iba Health(I) P.Ltd vs M/S Info-Drive Systems Sdn.Bhd on 23 September, 2010

63. It is no doubt true that the court will keep in mind the commercial solvency of a Company, larger public interest and repercussions of the order of admission. The commercial solvency, however, cannot be a stand alone ground. If that be so, then every Company which is commercially solvent will refuse to pay the admitted debts and then take up the ground of commercial solvency. The Apex Court in the case IBA Health (I) (P) Limited Vs. Info Drive Systems Sdn.Bhd, MANU/SC/0772/2010: 2010-10-SCC-553, has clearly laid down in the passage reproduced below that the commercial solvency cannot be considered as a stand alone ground:-
Supreme Court of India Cites 10 - Cited by 35 - K Radhakrishnan - Full Document
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