https://www.taxtmi.com/caselaws?id=103195 Repeated acknowledgments of liability, coupled with the absence of any reply to the statutory notice, supported a conclusion that the alleged defects, discount and damages defence lacked commercial substance and did not defeat the winding up claim. Later acknowledgments also kept the debt alive, so the limitation defence failed. The payment arrangement was treated as consistent with a contractual obligation subject to Reserve Bank permission, and it did not novate the original debt. A pending summary suit with leave to defend did not prevent the company court from independently assessing whether a bona fide dispute existed. en-us Mon, 18 Jan 1993 00:00:00 +0530 Tue, 21 Feb 2012 14:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103195 Repeated acknowledgments of liability, coupled with the absence of any reply to the statutory notice, supported a conclusion that the alleged defects, discount and damages defence lacked commercial substance and did not defeat the winding up claim. Later acknowledgments also kept the debt alive, so the limitation defence failed. The payment arrangement was treated as consistent with a contractual obligation subject to Reserve Bank permission, and it did not novate the original debt. A pending summary suit with leave to defend did not prevent the company court from independently assessing whether a bona fide dispute existed. Case-Laws Companies Law Mon, 18 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103195