https://www.taxtmi.com/caselaws?id=104535 The court rejected the winding-up petition under section 433 as there was no admitted debt between the parties and a bona fide dispute existed regarding the debt. The respondent's claim of damages was considered reasonable, not mala fide, as they had to purchase goods at a higher rate due to the petitioner's non-supply. The court emphasized assessing the genuineness of the dispute rather than determining exact damages. Both parties attempted negotiation before legal action, and the court found the respondent's suit not vexatious. No costs were awarded in the case. en-us Tue, 20 Jan 1998 00:00:00 +0530 Wed, 29 Feb 2012 14:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104535 The court rejected the winding-up petition under section 433 as there was no admitted debt between the parties and a bona fide dispute existed regarding the debt. The respondent's claim of damages was considered reasonable, not mala fide, as they had to purchase goods at a higher rate due to the petitioner's non-supply. The court emphasized assessing the genuineness of the dispute rather than determining exact damages. Both parties attempted negotiation before legal action, and the court found the respondent's suit not vexatious. No costs were awarded in the case. Case-Laws Companies Law Tue, 20 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104535