https://www.taxtmi.com/caselaws?id=103809 Winding up was held inappropriate where the company admitted the principal debt and undertook to pay it within the time fixed by the Court, because such readiness to pay meant there was no neglect of payment sufficient to support winding up. The Court also treated the interest claim as bona fide disputed and therefore unsuitable for determination in winding up jurisdiction, leaving the claimant to pursue a civil suit for that component. The petitions were disposed of by directing payment of the admitted principal sum within the stipulated time and declining winding up on the disputed interest claim. en-us Fri, 08 Nov 1996 00:00:00 +0530 Fri, 24 Feb 2012 16:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103809 Winding up was held inappropriate where the company admitted the principal debt and undertook to pay it within the time fixed by the Court, because such readiness to pay meant there was no neglect of payment sufficient to support winding up. The Court also treated the interest claim as bona fide disputed and therefore unsuitable for determination in winding up jurisdiction, leaving the claimant to pursue a civil suit for that component. The petitions were disposed of by directing payment of the admitted principal sum within the stipulated time and declining winding up on the disputed interest claim. Case-Laws Companies Law Fri, 08 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103809