https://www.taxtmi.com/caselaws?id=101599 A winding-up petition under section 433(e) could not be used to recover a disputed interest claim where the petitioner failed to establish an admitted or determined debt. The company had consistently denied liability for interest and disputed the rate claimed, while the principal amount was paid during the proceedings. Because the interest demand was raised only in the statutory notice and had not been acknowledged earlier, the court treated it as a bona fide disputed claim. Winding-up jurisdiction cannot substitute for ordinary civil recovery proceedings, and the record did not show insolvency or mala fides, so the petition was dismissed. en-us Tue, 24 Mar 1987 00:00:00 +0530 Fri, 10 Feb 2012 13:07:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101599 A winding-up petition under section 433(e) could not be used to recover a disputed interest claim where the petitioner failed to establish an admitted or determined debt. The company had consistently denied liability for interest and disputed the rate claimed, while the principal amount was paid during the proceedings. Because the interest demand was raised only in the statutory notice and had not been acknowledged earlier, the court treated it as a bona fide disputed claim. Winding-up jurisdiction cannot substitute for ordinary civil recovery proceedings, and the record did not show insolvency or mala fides, so the petition was dismissed. Case-Laws Companies Law Tue, 24 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101599