https://www.taxtmi.com/caselaws?id=112170 A winding-up petition may not be defeated by a mere denial, vague counter-claim or indeterminate adjustments where correspondence shows an admitted debt. The court treated the company's offer to supply vehicles and its other communications as acknowledging liability, so the bona fide dispute defence failed except for the unresolved balance. The same acknowledgment also attracted a fresh period of limitation, defeating the limitation objection. The petition was therefore admitted only to the extent of the admitted liability, with security directed for the balance. en-us Fri, 18 May 2007 00:00:00 +0530 Thu, 26 Apr 2012 18:38:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112170 A winding-up petition may not be defeated by a mere denial, vague counter-claim or indeterminate adjustments where correspondence shows an admitted debt. The court treated the company's offer to supply vehicles and its other communications as acknowledging liability, so the bona fide dispute defence failed except for the unresolved balance. The same acknowledgment also attracted a fresh period of limitation, defeating the limitation objection. The petition was therefore admitted only to the extent of the admitted liability, with security directed for the balance. Case-Laws Companies Law Fri, 18 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112170