https://www.taxtmi.com/caselaws?id=213397 A winding-up petition under the Companies Act, 1956 may proceed where the company fails to pay an admitted debt and its defence is not shown to be bona fide. The asserted cash settlement and adjustment for sub-standard goods was rejected because no receipt, correspondence, or other reliable documentary support was produced, and the ledger entries did not substantiate the claim. A dispute raised without prima facie material was treated as an afterthought, so the company's inability to pay the outstanding amount was prima facie established and further winding-up steps could follow if payment was not made within the time granted. en-us Thu, 24 Feb 2011 00:00:00 +0530 Tue, 12 Feb 2013 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213397 A winding-up petition under the Companies Act, 1956 may proceed where the company fails to pay an admitted debt and its defence is not shown to be bona fide. The asserted cash settlement and adjustment for sub-standard goods was rejected because no receipt, correspondence, or other reliable documentary support was produced, and the ledger entries did not substantiate the claim. A dispute raised without prima facie material was treated as an afterthought, so the company's inability to pay the outstanding amount was prima facie established and further winding-up steps could follow if payment was not made within the time granted. Case-Laws Companies Law Thu, 24 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213397