https://www.taxtmi.com/caselaws?id=108573 A winding-up petition under section 433(e) of the Companies Act, 1956 is not maintainable where the company raises a bona fide and plausible dispute as to liability and the petitioner has an ordinary civil remedy. Winding up is a discretionary and drastic remedy, not a substitute for debt recovery in an isolated commercial transaction. If the alleged debt is disputed, especially on grounds such as quality of goods or non-admission of liability, the proper course is ordinarily a civil suit. The Company Court may refuse winding up under section 443(2) where another remedy is available and the petitioner is acting unreasonably in seeking that course instead. en-us Mon, 11 Nov 2002 00:00:00 +0530 Mon, 02 Apr 2012 17:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108573 A winding-up petition under section 433(e) of the Companies Act, 1956 is not maintainable where the company raises a bona fide and plausible dispute as to liability and the petitioner has an ordinary civil remedy. Winding up is a discretionary and drastic remedy, not a substitute for debt recovery in an isolated commercial transaction. If the alleged debt is disputed, especially on grounds such as quality of goods or non-admission of liability, the proper course is ordinarily a civil suit. The Company Court may refuse winding up under section 443(2) where another remedy is available and the petitioner is acting unreasonably in seeking that course instead. Case-Laws Companies Law Mon, 11 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108573