https://www.taxtmi.com/caselaws?id=108386 Winding up on ground of inability to pay a commercial debt was refused where the dispute was a bona fide commercial controversy amenable to ordinary civil adjudication; the Court applied the principle that winding up is a discretionary, drastic remedy and may be refused if alternate remedies exist or the petitioner acts unreasonably, noted the respondent's plausible defence and counterclaim, and concluded the prerequisites for invoking winding up were not met on the material before the Court, dismissing the petition and directing the petitioner to pursue alternate recovery remedies. en-us Tue, 28 Jan 2003 00:00:00 +0530 Sat, 31 Mar 2012 13:05:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108386 Winding up on ground of inability to pay a commercial debt was refused where the dispute was a bona fide commercial controversy amenable to ordinary civil adjudication; the Court applied the principle that winding up is a discretionary, drastic remedy and may be refused if alternate remedies exist or the petitioner acts unreasonably, noted the respondent's plausible defence and counterclaim, and concluded the prerequisites for invoking winding up were not met on the material before the Court, dismissing the petition and directing the petitioner to pursue alternate recovery remedies. Case-Laws Companies Law Tue, 28 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108386