https://www.taxtmi.com/caselaws?id=108721 A winding up petition is not maintainable where the alleged debt is genuinely and substantially disputed. The High Court noted that the respondent denied liability for interest and service charges, disputed the authority and authenticity of the relied-upon letter, and asserted repayment of the principal. It also held that the dishonoured cheques and consolidated accounts required proof through evidence and supporting records, which could not be resolved in the Company Court's summary jurisdiction. Because the defence was bona fide and not illusory, the creditor was required to pursue ordinary civil remedies rather than winding up proceedings. en-us Fri, 14 Jun 2002 00:00:00 +0530 Tue, 03 Apr 2012 15:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108721 A winding up petition is not maintainable where the alleged debt is genuinely and substantially disputed. The High Court noted that the respondent denied liability for interest and service charges, disputed the authority and authenticity of the relied-upon letter, and asserted repayment of the principal. It also held that the dishonoured cheques and consolidated accounts required proof through evidence and supporting records, which could not be resolved in the Company Court's summary jurisdiction. Because the defence was bona fide and not illusory, the creditor was required to pursue ordinary civil remedies rather than winding up proceedings. Case-Laws Companies Law Fri, 14 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108721