https://www.taxtmi.com/caselaws?id=111026 A creditors' winding-up petition cannot be used to press a disputed interest claim when the principal supply dues have already been paid and no contract, pleaded custom, or legal basis for interest is shown. Interest is ordinarily recoverable only under contract, or by adjudication in an appropriate civil proceeding under section 34 of the Code of Civil Procedure. A company petition is not a money recovery suit, and winding-up jurisdiction cannot be invoked to determine a claim for reasonable interest or to compel winding up on that basis. In the absence of the statutory conditions precedent for winding up under the Companies Act, 1956, the petition is not maintainable. en-us Wed, 26 Oct 2005 00:00:00 +0530 Thu, 19 Apr 2012 17:46:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111026 A creditors' winding-up petition cannot be used to press a disputed interest claim when the principal supply dues have already been paid and no contract, pleaded custom, or legal basis for interest is shown. Interest is ordinarily recoverable only under contract, or by adjudication in an appropriate civil proceeding under section 34 of the Code of Civil Procedure. A company petition is not a money recovery suit, and winding-up jurisdiction cannot be invoked to determine a claim for reasonable interest or to compel winding up on that basis. In the absence of the statutory conditions precedent for winding up under the Companies Act, 1956, the petition is not maintainable. Case-Laws Companies Law Wed, 26 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111026