https://www.taxtmi.com/caselaws?id=102004 A winding-up petition was considered inappropriate where the alleged debt was subject to a substantial and bona fide dispute. The agreements had to be read together, and on that construction the liability formed part of a broader commercial bargain arising from the takeover of the company with its assets and liabilities. The company remained operational with substantial assets and a large workforce, and its deposit of the disputed amount in court supported its bona fides. The dispute was not a sham defence, so winding-up jurisdiction could not be used to resolve the contested debt claim, and the petition was dismissed. en-us Fri, 02 Nov 1990 00:00:00 +0530 Mon, 13 Feb 2012 13:35:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102004 A winding-up petition was considered inappropriate where the alleged debt was subject to a substantial and bona fide dispute. The agreements had to be read together, and on that construction the liability formed part of a broader commercial bargain arising from the takeover of the company with its assets and liabilities. The company remained operational with substantial assets and a large workforce, and its deposit of the disputed amount in court supported its bona fides. The dispute was not a sham defence, so winding-up jurisdiction could not be used to resolve the contested debt claim, and the petition was dismissed. Case-Laws Companies Law Fri, 02 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102004