https://www.taxtmi.com/caselaws?id=103488 The court found in favor of Mayar Traders Ltd. in the winding-up petition against Akhil Service Ltd. for unpaid debts related to printing lottery tickets. The settlement letter dated January 29, 1992, was deemed as an admission of liability under section 433(e) of the Companies Act, establishing the debt owed by Akhil Service Ltd. Despite Akhil Service Ltd.'s arguments disputing the validity of the settlement letter, the court concluded that there was no bona fide dispute raised, allowing the petition to proceed for further hearing and publication. en-us Wed, 27 Oct 1993 00:00:00 +0530 Thu, 23 Feb 2012 11:54:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103488 The court found in favor of Mayar Traders Ltd. in the winding-up petition against Akhil Service Ltd. for unpaid debts related to printing lottery tickets. The settlement letter dated January 29, 1992, was deemed as an admission of liability under section 433(e) of the Companies Act, establishing the debt owed by Akhil Service Ltd. Despite Akhil Service Ltd.'s arguments disputing the validity of the settlement letter, the court concluded that there was no bona fide dispute raised, allowing the petition to proceed for further hearing and publication. Case-Laws Companies Law Wed, 27 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103488