https://www.taxtmi.com/caselaws?id=111642 The court dismissed the winding-up petition as it found the debt to be genuinely disputed by the respondent company. The court emphasized that for a winding-up order to be justified, the debt must be determined or definite, and if bona fide disputed with substantial defense, the court will not wind up the company. The respondent's actions, including allotting shares to settle accounts, indicated a genuine dispute. Therefore, the court held that the petition was not a legitimate means to enforce payment of the disputed debt and dismissed it with no order as to costs. en-us Mon, 14 Aug 2006 00:00:00 +0530 Tue, 24 Apr 2012 14:46:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111642 The court dismissed the winding-up petition as it found the debt to be genuinely disputed by the respondent company. The court emphasized that for a winding-up order to be justified, the debt must be determined or definite, and if bona fide disputed with substantial defense, the court will not wind up the company. The respondent's actions, including allotting shares to settle accounts, indicated a genuine dispute. Therefore, the court held that the petition was not a legitimate means to enforce payment of the disputed debt and dismissed it with no order as to costs. Case-Laws Companies Law Mon, 14 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111642