https://www.taxtmi.com/caselaws?id=111625 The application for winding up under sections 433 and 434 of the Companies Act, 1956 was dismissed by the court. The judge ruled that the company's cross-claim of over Rs. 15 lakhs before receiving the petitioner's notice constituted a genuine dispute with a substantial defense, preventing the court from ordering winding up. The judge emphasized that established legal principles required a debt to be non-bona fide disputed for a winding-up petition to be rejected. Therefore, the petition was dismissed, and the company was not wound up. en-us Fri, 07 Jul 2006 00:00:00 +0530 Tue, 24 Apr 2012 13:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111625 The application for winding up under sections 433 and 434 of the Companies Act, 1956 was dismissed by the court. The judge ruled that the company's cross-claim of over Rs. 15 lakhs before receiving the petitioner's notice constituted a genuine dispute with a substantial defense, preventing the court from ordering winding up. The judge emphasized that established legal principles required a debt to be non-bona fide disputed for a winding-up petition to be rejected. Therefore, the petition was dismissed, and the company was not wound up. Case-Laws Companies Law Fri, 07 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111625