https://www.taxtmi.com/caselaws?id=103044 The court dismissed the petition for winding up the respondent company due to the alleged non-payment of a substantial amount, as the respondent's defense of the debt being time-barred by limitation was considered bona fide. The court emphasized the significance of acknowledgment of debt and limitation periods, referencing legal precedents and principles. While the petitioner's claim was not accepted, it was clarified that the opinion on limitation was preliminary, allowing the petitioner to pursue recovery through other legal means if permissible. The company petition was dismissed without costs awarded. en-us Thu, 18 Jan 1996 00:00:00 +0530 Mon, 20 Feb 2012 14:18:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103044 The court dismissed the petition for winding up the respondent company due to the alleged non-payment of a substantial amount, as the respondent's defense of the debt being time-barred by limitation was considered bona fide. The court emphasized the significance of acknowledgment of debt and limitation periods, referencing legal precedents and principles. While the petitioner's claim was not accepted, it was clarified that the opinion on limitation was preliminary, allowing the petitioner to pursue recovery through other legal means if permissible. The company petition was dismissed without costs awarded. Case-Laws Companies Law Thu, 18 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103044