https://www.taxtmi.com/caselaws?id=100014 An unfiled arbitration award can still evidence a presently payable debt for winding-up purposes under sections 433 and 434 of the Companies Act, 1956, because such a petition is a representative proceeding in rem and not a suit to enforce the award. The Company Court only makes a prima facie enquiry into the existence of the debt and whether the company has raised a bona fide dispute. Section 32 of the Arbitration Act, 1940 does not bar reliance on the unfiled award, since the petition does not seek to enforce, modify, or set aside the award. The winding-up order admitting the petition was therefore sustained. en-us Fri, 26 Sep 1980 00:00:00 +0530 Mon, 30 Jan 2012 18:31:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100014 An unfiled arbitration award can still evidence a presently payable debt for winding-up purposes under sections 433 and 434 of the Companies Act, 1956, because such a petition is a representative proceeding in rem and not a suit to enforce the award. The Company Court only makes a prima facie enquiry into the existence of the debt and whether the company has raised a bona fide dispute. Section 32 of the Arbitration Act, 1940 does not bar reliance on the unfiled award, since the petition does not seek to enforce, modify, or set aside the award. The winding-up order admitting the petition was therefore sustained. Case-Laws Companies Law Fri, 26 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100014