https://www.taxtmi.com/caselaws?id=109040 Winding-up petitions based on isolated commercial supply claims should be refused where the company raises a bona fide dispute as to liability and effective alternate remedies exist; the remedy of winding up is discretionary and extreme, terminates corporate existence, and is inappropriate absent a strong prima facie case. Factors include the nature of the claim, availability of ordinary civil proceedings, asserted bona fide defences and offsets, and commercial viability of the running company. Operative effect: the winding-up petition is not maintainable and the petitioner must pursue available alternate remedies such as a civil suit for recovery. en-us Thu, 18 Mar 2004 00:00:00 +0530 Fri, 20 Apr 2012 18:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109040 Winding-up petitions based on isolated commercial supply claims should be refused where the company raises a bona fide dispute as to liability and effective alternate remedies exist; the remedy of winding up is discretionary and extreme, terminates corporate existence, and is inappropriate absent a strong prima facie case. Factors include the nature of the claim, availability of ordinary civil proceedings, asserted bona fide defences and offsets, and commercial viability of the running company. Operative effect: the winding-up petition is not maintainable and the petitioner must pursue available alternate remedies such as a civil suit for recovery. Case-Laws Companies Law Thu, 18 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109040