Supreme Court Dismisses Company's Appeal and Affirms Receiver's Authority to File Winding-Up Petition. Receiver Holding Power Under Order XL Rule 1(d) CPC Qualifies as Creditor Under Section 439(1)(b) of Companies Act, 1956, and Company's Non-Payment to Additional Collector Constituted Neglect to Pay Debt Under Section 434....
The dispute arose from a debt owed by a sugar mill company to a joint Hindu family for the sale of a sugarcane farm. The company, incorporated in 1933, had purchased the farm in 1956 for Rs.40,00,000,...




