https://www.taxtmi.com/caselaws?id=104501 A winding-up petition based on inability to pay is inappropriate where the debt is bona fide disputed; the legal test requires assessing the existence or liability of the debt, the parties' conduct, the character of the pleas and surrounding circumstances to determine whether the dispute is genuine. Where the respondent denied liability and alleged defective goods soon after statutory notice and the petitioner had alternate remedies to pursue recovery in an appropriate forum, the petition is not maintainable and is dismissed. en-us Wed, 27 Nov 1996 00:00:00 +0530 Wed, 29 Feb 2012 13:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104501 A winding-up petition based on inability to pay is inappropriate where the debt is bona fide disputed; the legal test requires assessing the existence or liability of the debt, the parties' conduct, the character of the pleas and surrounding circumstances to determine whether the dispute is genuine. Where the respondent denied liability and alleged defective goods soon after statutory notice and the petitioner had alternate remedies to pursue recovery in an appropriate forum, the petition is not maintainable and is dismissed. Case-Laws Companies Law Wed, 27 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104501