https://www.taxtmi.com/caselaws?id=108886 The Court granted the petition filed under section 433(e) of the Companies Act, 1956, ordering the winding up of the respondent-company due to unpaid debts amounting to Rs. 43,33,732.78. The Court found the respondent's defense lacking in good faith and substantiality, leading to the decision to proceed with the winding-up order. Despite the respondent's arguments regarding lack of privity of contract and sub-quality supplies, the Court deemed the defense frivolous and unsubstantial, justifying the winding-up order based on the petitioner's claim of unpaid dues and commercial insolvency of the respondent. en-us Tue, 08 Oct 2002 00:00:00 +0530 Wed, 04 Apr 2012 13:31:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108886 The Court granted the petition filed under section 433(e) of the Companies Act, 1956, ordering the winding up of the respondent-company due to unpaid debts amounting to Rs. 43,33,732.78. The Court found the respondent's defense lacking in good faith and substantiality, leading to the decision to proceed with the winding-up order. Despite the respondent's arguments regarding lack of privity of contract and sub-quality supplies, the Court deemed the defense frivolous and unsubstantial, justifying the winding-up order based on the petitioner's claim of unpaid dues and commercial insolvency of the respondent. Case-Laws Companies Law Tue, 08 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108886