- (1.) The Court: On the ground that the company is unable to pay its debts, the petitioning creditor has applied for winding up of the company. In support of its case, the petitioning creditor relies on deemed inability of the company to pay its debts.
(2.) The statutory notice issued in this case, was met by an answer to the effect that the company is forwarding the same to its solicitor with its file of papers to reply the same, which reply did not come into existence.
(3.) The statutory presumption of inability is rebuttable. We will, therefore, have to see whether such presumption has been rebutted in the affidavit filed by the company. In the matter of finding out the same, it is not necessary that we must satisfy to the hilt that the presumption has been squarely rebutted; all that we are required to look at is to fled out whether the company has been able to make out a possible defence to the monetary claim of the petitioning creditor. In doing so, we have only to see whether an issue of fact arises, which cannot be decided without a trial on the assertions made by the petitioning creditor and denied by the company on affidavits. There is no such issue of facts in the instant case.;