https://www.taxtmi.com/caselaws?id=103034 A winding-up petition was not defeated by an initial verification defect under Rule 21 of the Companies (Court) Rules, 1959, because the defect was procedural and was cured when the board resolution authorising the deponent to sign and file the petition was produced; the petition was therefore maintainable. The company's own correspondence admitted royalty arrears, part payment had been made, and an unpaid cheque reinforced the debt; the alleged later arbitration did not negate the pre-existing liability. As the debt was not shown to be bona fide disputed, non-payment justified winding up for inability to pay debts, and the petition succeeded. en-us Fri, 29 Dec 1995 00:00:00 +0530 Mon, 20 Feb 2012 13:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103034 A winding-up petition was not defeated by an initial verification defect under Rule 21 of the Companies (Court) Rules, 1959, because the defect was procedural and was cured when the board resolution authorising the deponent to sign and file the petition was produced; the petition was therefore maintainable. The company's own correspondence admitted royalty arrears, part payment had been made, and an unpaid cheque reinforced the debt; the alleged later arbitration did not negate the pre-existing liability. As the debt was not shown to be bona fide disputed, non-payment justified winding up for inability to pay debts, and the petition succeeded. Case-Laws Companies Law Fri, 29 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103034