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1 - 8 of 8 (0.20 seconds)Section 433 in The Companies Act, 1956 [Entire Act]
Amalgamated Commercial Traders (P.) ... vs A.C.K. Krishnaswami And Anr. on 8 January, 1965
In Amalgamated
Commercial Traders (P) Ltd. v. A.C.K. rishnaswami9 this
Court quoted with approval the following passage from
luckley on the Companies Acts, (1 3th Edn., p. 45 1):
"It is well-settled that 'a winding-up petition is not a
legitimate means of seeking to enforce payment of the debt
which is bona fide disputed by the company. A petition
presented ostensibly for a windingup order but really to
exercise pressure will be dismissed, and under circumstances
may be stigmatised as a scandalous abuse of the process of
the court'."
Section 439 in The Companies Act, 1956 [Entire Act]
Section 483 in The Companies Act, 1956 [Entire Act]
Madhusudan Gordhandas & Co vs Madhu Woollen Industries Pvt. Ltd on 29 October, 1971
In support of these
submissions reliance is placed on Madhusudan Gordhandas v.
Madhu Woollen Industries Pvt. Ltd.' In the instant case,
the debt itself is yet to be established. Merely because
the promoters agreement had been signed it does not follow
that the appellant is liable as a debtor.
1 (1971)3SCC632:(1972)42CompCasl25
Section 557 in The Companies Act, 1956 [Entire Act]
V.V. Krishna Iyer Sons vs New Era Manufacturing Co. Ltd., Palghat on 9 December, 1964
27.What then is inability when the section says "unable to
pay its dues"? That should be taken in the commercial
sense. In that, it is unable to meet current demands. As
stated by William James, V.C. it is "plainly and
commercially insolvent that is to say, that its assets are
such, and its existing liabilities are such, as to make it
reasonably certain as to make the Court feel satisfied
that the existing and probable assets would be insufficient
to meet the existing liabilities". (In European Life
Assurance Society, Re2; V. V. Krishna Iyer & Sons v. New Era
Mfg. Co. Ltd. 3)
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