Companies Act, 1956
434. Company when deemed unable to pay its debts .-
(1) A company shall be deemed to be unable to pay its debts ... Section 52, for " Court" .] that the company is unable to pay its debts, and, in determining whether a company is unable to pay its debts
wound up by the Tribunal,— (a) if the company is unable to pay its debts; (b) if the company has, by special resolution, resolved that ... wound up. (2) A company shall be deemed to be unable to pay its debts,— (a) if a creditor, by assignment or otherwise, to whom
winding up its affairs; (b) if the company is unable to pay its debts; (c) if the [Tribunal] [ Substituted by Act 11 of 2003, Section ... purposes of this Act, be deemed to be unable to pay its debts- (a) if a creditor, by assignment or otherwise, to whom the company
being satisfied that a non-banking financial company— (a) is unable to pay its debt; or (b) has by virtue of the provisions of section ... banking financial company shall be deemed to be unable to pay its debt if it has refused or has failed to meet within five working
operative bank; or (e) that the co-operative bank is unable to pay its debts; or (f) that in the opinion of the Reserve Bank ... clause (e) of sub-section (1), be deemed to be unable to pay its debts:- (i) if, on the basis of the returns, statements
banking company- (a) if the banking company is unable to pay its debts; or (b) if an application for its winding up has been made ... provisions of this Act disclose that the banking company is unable to pay its debts; or (iii) the continuance of the banking company is prejudicial
winding up of a banking company if it is unable to pay its debts and the [Subs ... 1913.a banking company shall be deemed to be unable to pay its debts if it has refused to meet any lawful demand for payment
respondent-company on the ground that the company is unable to pay its debts as envisaged by section 433(e) of the Companies ... company is unable to pay its debts. The deeming fiction regarding inability of the company to pay its debts is said to arise under
respondent-company on the ground that the Comany is unable to pay its debts as envisaged ... company is unable to pay its debts. The deemed fiction regarding inability of the company to pay its debts is said to arise under three
failure to obtain payment, he alleged that the company was unable to pay its debts and asked for a winding up order ... pay its debts. He, however, contended that the debts contemplated by Section 38(1) were not any debts, but only hanking debts. He proceeded
