When My Friend Owes Me Money, I Think of Section 69 of the Companies Act
company clat_ug intermediate law_vs_lifeYeh toh banta hai! Every time my friend promises to pay me back his share of the pizza from last weekend, I remember Section 69 of the Companies Act. You know, the one that says companies can be declared as 'winding up by the court' if they have defaulted on repayments of debts. Same thing, right? My friend is like the company that's defaulting on pizza payments. If I take it to court (okay, maybe not, but I can nag him a bit), the judge might say, "Dude, you're not paying up, you're basically insolvent." Insolvent, just like a company that can't pay its debts. Okay, maybe that's a stretch, but you get the point, nahi?
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