Supreme Court · 2005 INSC 154 · Decided 17 March 2005
Mediquip Systems PVT. LTD. v. Proxima Medical System G.M.B.H.
- Court
- Supreme Court of India
- Citation
- 2005 INSC 154 · [2005] 2 S.C.R. 1015
- Case number
- CIVIL APPEAL No. 1811/2005
- Decided
- 17 March 2005
- Bench
- ASHOK BHAN, AR. LAKSHMANAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 433(e), 434
Headnote
B Companies Act, 1956-Section 433(e)-Winding up proceedings­ Maintainability of-Held : Maintainable when there is determined debt due and the company is unable to pay-Expression 'unable to pay its dues' to be taken in commercial sense-Machinery for winding up not to be utilised merely C for that the debt is payable to it by the company-Hence winding up orders cannot be passed Words and phrases- 'unable to pay its dues '-Meaning of in the context D of Section 433(e) of Companies Act, 1956. Respondent-company filed a winding up petition against the appellant-company on the ground
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