https://www.taxtmi.com/caselaws?id=112405 The petition was admitted for the principal claim of Rs. 7,34,526.40 with interest, and the Company was directed to furnish security within three weeks to avoid advertisement of the petition. The Court's order balanced the need to protect the petitioner's claim while allowing the Company an opportunity to secure its position. The judgment underscores the Company Court's authority to assess the bona fides of disputes and counter-claims in winding up proceedings and to exercise discretion in ordering security or proceeding with the petition. en-us Thu, 22 Feb 2007 00:00:00 +0530 Sat, 28 Apr 2012 12:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112405 The petition was admitted for the principal claim of Rs. 7,34,526.40 with interest, and the Company was directed to furnish security within three weeks to avoid advertisement of the petition. The Court's order balanced the need to protect the petitioner's claim while allowing the Company an opportunity to secure its position. The judgment underscores the Company Court's authority to assess the bona fides of disputes and counter-claims in winding up proceedings and to exercise discretion in ordering security or proceeding with the petition. Case-Laws Companies Law Thu, 22 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112405