https://www.taxtmi.com/caselaws?id=110029 A winding up petition is not maintainable where the alleged debt is genuinely disputed, the defence is bona fide, and the liability requires adjudication rather than summary treatment. Here, the respondent denied the claimed liability, raised limitation, and the dispute was already pending in arbitration, showing the debt was not admitted. The alleged affidavit in another proceeding was not conclusive acknowledgment of liability, and even if considered, the claim remained time-barred. The company court therefore would not admit the petition for winding up on the ground of inability to pay debts. en-us Wed, 20 Apr 2005 00:00:00 +0530 Fri, 13 Apr 2012 14:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110029 A winding up petition is not maintainable where the alleged debt is genuinely disputed, the defence is bona fide, and the liability requires adjudication rather than summary treatment. Here, the respondent denied the claimed liability, raised limitation, and the dispute was already pending in arbitration, showing the debt was not admitted. The alleged affidavit in another proceeding was not conclusive acknowledgment of liability, and even if considered, the claim remained time-barred. The company court therefore would not admit the petition for winding up on the ground of inability to pay debts. Case-Laws Companies Law Wed, 20 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110029