https://www.taxtmi.com/caselaws?id=103410 The court dismissed the winding up petition filed by the petitioner against the respondent company for failure to pay a debt. The court found that the debt was disputed and subject to a pending civil suit, making it appropriate for the civil court to decide on the matter. As the respondent had paid the admitted amount and demonstrated financial stability, the court ruled that the purpose of winding up was not to settle money disputes but to address insolvency issues. Each party was ordered to bear their own costs in the case. en-us Fri, 28 Mar 1997 00:00:00 +0530 Wed, 22 Feb 2012 17:12:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103410 The court dismissed the winding up petition filed by the petitioner against the respondent company for failure to pay a debt. The court found that the debt was disputed and subject to a pending civil suit, making it appropriate for the civil court to decide on the matter. As the respondent had paid the admitted amount and demonstrated financial stability, the court ruled that the purpose of winding up was not to settle money disputes but to address insolvency issues. Each party was ordered to bear their own costs in the case. Case-Laws Companies Law Fri, 28 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103410