https://www.taxtmi.com/caselaws?id=111135 A winding-up petition cannot proceed where the alleged debt is bona fide disputed on substantial grounds and is not an ascertained, definite liability. A claim for interest on delayed payments was unsupported by any written agreement or prima facie proof of binding trade practice, and the company's challenge to both liability and quantum showed that neglect to pay was not established. Winding-up jurisdiction cannot be used as a substitute for debt recovery or to pressure payment where the claim is genuinely disputed. On that basis, the admission order was set aside and the winding-up proceedings failed. en-us Mon, 14 Mar 2005 00:00:00 +0530 Fri, 20 Apr 2012 15:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111135 A winding-up petition cannot proceed where the alleged debt is bona fide disputed on substantial grounds and is not an ascertained, definite liability. A claim for interest on delayed payments was unsupported by any written agreement or prima facie proof of binding trade practice, and the company's challenge to both liability and quantum showed that neglect to pay was not established. Winding-up jurisdiction cannot be used as a substitute for debt recovery or to pressure payment where the claim is genuinely disputed. On that basis, the admission order was set aside and the winding-up proceedings failed. Case-Laws Companies Law Mon, 14 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111135