https://www.taxtmi.com/caselaws?id=99994 The court admitted the winding-up petition based on the genuine debt owed by the respondent-company to the petitioning-creditor for construction works. Despite acknowledging disputes raised by the company regarding the debt, the court emphasized the need for commercial resolution and refrained from immediate payment, adjourning the matter for settlement. Recognizing the inherent disputes in building contracts, the court directed the company to furnish security and allowed the petitioning-creditor to file a suit by a specified date, avoiding immediate winding-up proceedings unless security was not provided. en-us Wed, 27 Feb 1980 00:00:00 +0530 Mon, 30 Jan 2012 18:08:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99994 The court admitted the winding-up petition based on the genuine debt owed by the respondent-company to the petitioning-creditor for construction works. Despite acknowledging disputes raised by the company regarding the debt, the court emphasized the need for commercial resolution and refrained from immediate payment, adjourning the matter for settlement. Recognizing the inherent disputes in building contracts, the court directed the company to furnish security and allowed the petitioning-creditor to file a suit by a specified date, avoiding immediate winding-up proceedings unless security was not provided. Case-Laws Companies Law Wed, 27 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99994