https://www.taxtmi.com/caselaws?id=103158 A winding-up petition for non-payment of debt will not be entertained where the company raises a bona fide and substantial defence requiring adjudication of disputed facts. The dispute here concerned execution, commissioning, defects, and alleged non-performance of a sulphuric acid plant, and the record showed a serious contest on liability. The parties had also referred the controversy to arbitration under their agreement, with an arbitrator appointed and objections to the award pending, which reinforced that the matter belonged in the proper forum. The petition was therefore not maintainable, and the defence of the respondent-company was treated as bona fide and substantial. en-us Mon, 28 Sep 1992 00:00:00 +0530 Tue, 21 Feb 2012 11:33:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103158 A winding-up petition for non-payment of debt will not be entertained where the company raises a bona fide and substantial defence requiring adjudication of disputed facts. The dispute here concerned execution, commissioning, defects, and alleged non-performance of a sulphuric acid plant, and the record showed a serious contest on liability. The parties had also referred the controversy to arbitration under their agreement, with an arbitrator appointed and objections to the award pending, which reinforced that the matter belonged in the proper forum. The petition was therefore not maintainable, and the defence of the respondent-company was treated as bona fide and substantial. Case-Laws Companies Law Mon, 28 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103158