https://www.taxtmi.com/caselaws?id=113066 A winding-up petition was held not maintainable where the alleged debt arose from intra-group family settlement transactions and arbitration proceedings, and the liability remained disputed. The court treated the pending awards and challenge proceedings as showing that the claim was not an undisputed admitted debt suitable for winding-up jurisdiction. It also noted that the company was commercially solvent and a going concern, and the defence was bona fide rather than sham or mala fide. The claim therefore had to be adjudicated before the proper forum, and could not justify admission or advertisement of the petition. en-us Tue, 22 Jul 2008 00:00:00 +0530 Wed, 03 Dec 2014 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113066 A winding-up petition was held not maintainable where the alleged debt arose from intra-group family settlement transactions and arbitration proceedings, and the liability remained disputed. The court treated the pending awards and challenge proceedings as showing that the claim was not an undisputed admitted debt suitable for winding-up jurisdiction. It also noted that the company was commercially solvent and a going concern, and the defence was bona fide rather than sham or mala fide. The claim therefore had to be adjudicated before the proper forum, and could not justify admission or advertisement of the petition. Case-Laws Companies Law Tue, 22 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113066