https://www.taxtmi.com/caselaws?id=98765 The court dismissed the application for the stay of the winding-up proceedings, finding that the company's objections regarding the petitioner's status as a holder in due course, the company's obligation to pay bearer debenture holders directly, and the right of a secured creditor to present a winding-up petition were not bona fide or substantial disputes. The court held that the company's failure to satisfy the petitioner's claim within the statutory period constituted neglect, leading to the dismissal of the application with costs. en-us Fri, 28 Aug 1970 00:00:00 +0530 Sat, 21 Jan 2012 19:02:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98765 The court dismissed the application for the stay of the winding-up proceedings, finding that the company's objections regarding the petitioner's status as a holder in due course, the company's obligation to pay bearer debenture holders directly, and the right of a secured creditor to present a winding-up petition were not bona fide or substantial disputes. The court held that the company's failure to satisfy the petitioner's claim within the statutory period constituted neglect, leading to the dismissal of the application with costs. Case-Laws Companies Law Fri, 28 Aug 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98765