https://www.taxtmi.com/caselaws?id=99219 Challenge to maintainability of a winding-up petition under the Companies Act was assessed by reference to the statutory test requiring a definite debt and the settled principle that a winding-up petition cannot be used to enforce a genuinely disputed liability. The court found the contractual matrix showed dealings with a third-party financier/agent, absence of clear entrustment to the company, and contested factual issues on payment and delivery; these facts established a bona fide dispute on liability. Outcome: the winding-up petition was dismissed for want of an established debt and existence of a bona fide dispute. en-us Fri, 07 Mar 1975 00:00:00 +0530 Wed, 25 Jan 2012 16:07:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99219 Challenge to maintainability of a winding-up petition under the Companies Act was assessed by reference to the statutory test requiring a definite debt and the settled principle that a winding-up petition cannot be used to enforce a genuinely disputed liability. The court found the contractual matrix showed dealings with a third-party financier/agent, absence of clear entrustment to the company, and contested factual issues on payment and delivery; these facts established a bona fide dispute on liability. Outcome: the winding-up petition was dismissed for want of an established debt and existence of a bona fide dispute. Case-Laws Companies Law Fri, 07 Mar 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99219