https://www.taxtmi.com/caselaws?id=109721 An admitted debt supported by balance confirmation and contemporaneous correspondence will justify admission of winding-up proceedings unless the company raises a bona fide, substantial and credible dispute. A delayed plea of breach of warranty and alleged rejection of goods was found insufficient, because the alleged non-conformity was raised late and did not displace the acknowledged liability. The Court noted that even an assumed breach of warranty would ordinarily sound in diminution of price or damages, not repudiation of the contract. On the material before it, the dispute was not substantial enough to require the petitioner to pursue a civil suit, and the winding-up petition was admitted. en-us Mon, 26 Aug 2002 00:00:00 +0530 Wed, 11 Apr 2012 14:59:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109721 An admitted debt supported by balance confirmation and contemporaneous correspondence will justify admission of winding-up proceedings unless the company raises a bona fide, substantial and credible dispute. A delayed plea of breach of warranty and alleged rejection of goods was found insufficient, because the alleged non-conformity was raised late and did not displace the acknowledged liability. The Court noted that even an assumed breach of warranty would ordinarily sound in diminution of price or damages, not repudiation of the contract. On the material before it, the dispute was not substantial enough to require the petitioner to pursue a civil suit, and the winding-up petition was admitted. Case-Laws Companies Law Mon, 26 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109721