https://www.taxtmi.com/caselaws?id=102635 Whether the company was unable to pay its debts was examined against the requirement that the creditor's claim be clear, valid and unimpeachable; the court found material evidence (absence of original ledgers or written interest agreement, payments indicating loan account cleared by October 1986, uncertain deposit balance) showed a bona fide dispute and that the interest claim rested on an unpleaded oral agreement and appeared time barred. Applying the unimpeachable debt standard for winding up, the petition was dismissed and the petitioner was directed to pursue the disputed monetary claim in a civil suit. en-us Fri, 07 Oct 1994 00:00:00 +0530 Wed, 15 Feb 2012 15:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102635 Whether the company was unable to pay its debts was examined against the requirement that the creditor's claim be clear, valid and unimpeachable; the court found material evidence (absence of original ledgers or written interest agreement, payments indicating loan account cleared by October 1986, uncertain deposit balance) showed a bona fide dispute and that the interest claim rested on an unpleaded oral agreement and appeared time barred. Applying the unimpeachable debt standard for winding up, the petition was dismissed and the petitioner was directed to pursue the disputed monetary claim in a civil suit. Case-Laws Companies Law Fri, 07 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102635