Bombay High Court Allows Winding Up Petition Under Sections 433(e) and 434 of Companies Act, 1956 for Non-Payment of Debt Despite Dishonour of Cheques and Pending Criminal Complaints. The court held that the company is deemed unable to pay its debts under Section 434(1)(a) and ordered winding up, rejecting the argument that pending proceedings under Section 138 of the Negotiable Instruments Act, 1881 constitute a bona fide dispute.
1 Apr 2005The petitioner, M/s. Rasiklal Ratilal and M/s. Rasiklal Ratilal Trading P. Ltd., filed two company petitions under Sections 433(e) and 434 of the Comp...




