https://www.taxtmi.com/caselaws?id=103853 The court found that the company was not unable to pay its debts as it was financially sound and the liability was genuinely disputed. Consequently, the request for winding up the company was denied. However, the court ordered the company to furnish a bank guarantee for the claimed amounts within four weeks, enabling the petitioners to enforce the guarantee if they prove their claims in subsequent proceedings. The company petitions were resolved accordingly. en-us Thu, 22 May 1997 00:00:00 +0530 Fri, 24 Feb 2012 17:57:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103853 The court found that the company was not unable to pay its debts as it was financially sound and the liability was genuinely disputed. Consequently, the request for winding up the company was denied. However, the court ordered the company to furnish a bank guarantee for the claimed amounts within four weeks, enabling the petitioners to enforce the guarantee if they prove their claims in subsequent proceedings. The company petitions were resolved accordingly. Case-Laws Companies Law Thu, 22 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103853