https://www.taxtmi.com/caselaws?id=101672 In a winding-up petition, a defence must be bona fide, substantial, and likely to succeed; a mere denial of liability is insufficient. Where supply and agreed price are undisputed, short payment of the admitted balance without a credible basis indicates neglect to pay a due debt. The unpaid price may also carry interest from the date of delivery under the Sale of Goods Act. On that footing, the petition can be directed for advertisement if payment of the balance with interest is not made. en-us Fri, 10 Feb 1989 00:00:00 +0530 Fri, 10 Feb 2012 16:08:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101672 In a winding-up petition, a defence must be bona fide, substantial, and likely to succeed; a mere denial of liability is insufficient. Where supply and agreed price are undisputed, short payment of the admitted balance without a credible basis indicates neglect to pay a due debt. The unpaid price may also carry interest from the date of delivery under the Sale of Goods Act. On that footing, the petition can be directed for advertisement if payment of the balance with interest is not made. Case-Laws Companies Law Fri, 10 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101672