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The High Court wound up Elite Career Choices (T) Limited for inability to pay debts and appointed an official liquidator, while directing priority for NSSF's claim.
The High Court ordered winding up of Vasso Agroventures Limited after finding unpaid debts, liabilities exceeding assets, and a serious deadlock between the only two directors.
The respondent's failure to pay the uncontested debt after statutory notice, and the sufficiency of advertisement in a widely circulated newspaper, justify the winding up order under Sections 280 and 281 of the Companies Act.
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The High Court dismissed a winding-up petition, finding the petitioner failed to prove a debt and commercial insolvency under the Companies Act.
The respondent failed to pay the debt as per the consent judgment and did not oppose the petition. Evidence showed inability to pay debts. The company is therefore ordered to be wound up for high indebtedness and failure to pay debts.
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