https://www.taxtmi.com/caselaws?id=106142 The winding-up petition was dismissed. The court directed the respondent to pay interest at 15% per annum on the admitted amount and assessed costs of Rs. 2,000 to be paid to the petitioner. The court emphasized that the machinery for winding-up should not be used merely as a means for debt recovery, especially when there is a bona fide dispute regarding the debt. The petitioner was advised to pursue the matter in the civil court where a suit for recovery had already been filed. en-us Thu, 15 Oct 1998 00:00:00 +0530 Mon, 12 Mar 2012 17:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106142 The winding-up petition was dismissed. The court directed the respondent to pay interest at 15% per annum on the admitted amount and assessed costs of Rs. 2,000 to be paid to the petitioner. The court emphasized that the machinery for winding-up should not be used merely as a means for debt recovery, especially when there is a bona fide dispute regarding the debt. The petitioner was advised to pursue the matter in the civil court where a suit for recovery had already been filed. Case-Laws Companies Law Thu, 15 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106142