https://www.taxtmi.com/caselaws?id=211775 The court allowed the company to defend against a winding-up application for non-payment of dues by furnishing a bank guarantee of the claimed amount within four weeks. Failure to provide the security would enable the petitioning creditor to proceed with the winding-up application. The court emphasized the need for bona fide disputes and applied legal precedents to balance the interests of both parties. The application was disposed of with no order as to costs, providing a fair opportunity for the company to prove its defense while ensuring the creditor's claims were secured. en-us Wed, 22 Feb 2012 00:00:00 +0530 Tue, 12 Feb 2013 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211775 The court allowed the company to defend against a winding-up application for non-payment of dues by furnishing a bank guarantee of the claimed amount within four weeks. Failure to provide the security would enable the petitioning creditor to proceed with the winding-up application. The court emphasized the need for bona fide disputes and applied legal precedents to balance the interests of both parties. The application was disposed of with no order as to costs, providing a fair opportunity for the company to prove its defense while ensuring the creditor's claims were secured. Case-Laws Companies Law Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211775