https://www.taxtmi.com/caselaws?id=103513 Statutory notice under the Companies Act framework requires that a creditor may seek winding up where a company neglects or fails to pay a debt after service of the prescribed notice; a bona fide substantial dispute on existence or amount of the debt defeats such a petition. Here invoices and shipping documents were sent to the respondent, goods were released and used at invoiced prices, the respondent did not contemporaneously dispute prices, and after statutory notice raised alternative defenses only; the factual matrix showed a prima facie admitted debt with no credible bona fide dispute, so admission of the petition was appropriate. en-us Wed, 02 Mar 1994 00:00:00 +0530 Thu, 23 Feb 2012 13:34:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103513 Statutory notice under the Companies Act framework requires that a creditor may seek winding up where a company neglects or fails to pay a debt after service of the prescribed notice; a bona fide substantial dispute on existence or amount of the debt defeats such a petition. Here invoices and shipping documents were sent to the respondent, goods were released and used at invoiced prices, the respondent did not contemporaneously dispute prices, and after statutory notice raised alternative defenses only; the factual matrix showed a prima facie admitted debt with no credible bona fide dispute, so admission of the petition was appropriate. Case-Laws Companies Law Wed, 02 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103513