https://www.taxtmi.com/caselaws?id=113627 A winding up petition may proceed where the company admits liability but fails to show a bona fide, substantial dispute supported by prima facie material; an alternative civil remedy does not bar relief in those circumstances. The Court found that the respondent company had not raised any real dispute as to the debt or amount claimed, had not paid the admitted dues after notice, and its annual reports indicated commercial inability to meet liabilities. On that basis, the statutory ground of inability to pay debts was established, and winding up proceedings were directed to continue with appointment of the Official Liquidator. en-us Wed, 06 Jan 2010 00:00:00 +0530 Sat, 18 Oct 2014 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113627 A winding up petition may proceed where the company admits liability but fails to show a bona fide, substantial dispute supported by prima facie material; an alternative civil remedy does not bar relief in those circumstances. The Court found that the respondent company had not raised any real dispute as to the debt or amount claimed, had not paid the admitted dues after notice, and its annual reports indicated commercial inability to meet liabilities. On that basis, the statutory ground of inability to pay debts was established, and winding up proceedings were directed to continue with appointment of the Official Liquidator. Case-Laws Companies Law Wed, 06 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113627