https://www.taxtmi.com/caselaws?id=103309 A winding-up petition for inability to pay debts cannot be defeated by technical objections where the debt is admitted and the defence is not bona fide. The article notes that admitted inter-corporate deposits, supporting correspondence, and delay in responding may show a dilatory defence rather than a genuine dispute. It also states that a running loan transaction, once disclosed, is not turned into a new cause of action by later pleadings, so limitation is not extended and amendment may be unnecessary. Claimed securities and procedural objections to the supporting affidavit will not defeat maintainability if the security is not real or legally effective. en-us Mon, 13 May 1996 00:00:00 +0530 Wed, 22 Feb 2012 13:10:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103309 A winding-up petition for inability to pay debts cannot be defeated by technical objections where the debt is admitted and the defence is not bona fide. The article notes that admitted inter-corporate deposits, supporting correspondence, and delay in responding may show a dilatory defence rather than a genuine dispute. It also states that a running loan transaction, once disclosed, is not turned into a new cause of action by later pleadings, so limitation is not extended and amendment may be unnecessary. Claimed securities and procedural objections to the supporting affidavit will not defeat maintainability if the security is not real or legally effective. Case-Laws Companies Law Mon, 13 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103309