https://www.taxtmi.com/caselaws?id=99903 The court dismissed the company's defense in a winding-up petition based on non-payment of goods, finding it frivolous and lacking evidence. The court determined that the petitioning-creditor's claim was bona fide and warned against baseless allegations harming business reputation. Concluding that the company's defense was an attempt to victimize trade creditors for employees' fraudulent acts, the court admitted and advertised the winding-up petition, allowing the company to settle the claim to avoid further proceedings. The court clarified that the order did not hinder the company from taking action against its employees or affect the matter before the Vigilance Commission. en-us Tue, 18 Mar 1980 00:00:00 +0530 Mon, 30 Jan 2012 15:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99903 The court dismissed the company's defense in a winding-up petition based on non-payment of goods, finding it frivolous and lacking evidence. The court determined that the petitioning-creditor's claim was bona fide and warned against baseless allegations harming business reputation. Concluding that the company's defense was an attempt to victimize trade creditors for employees' fraudulent acts, the court admitted and advertised the winding-up petition, allowing the company to settle the claim to avoid further proceedings. The court clarified that the order did not hinder the company from taking action against its employees or affect the matter before the Vigilance Commission. Case-Laws Companies Law Tue, 18 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99903