https://www.taxtmi.com/caselaws?id=218288 Winding up was held to be inappropriate where the petition rested on a bona fide disputed claim arising from a final bill under the same contract that was already in arbitration. The court noted that the dispute involved competing claims rather than an undisputed debt, and that the amount was secured by a bank guarantee. In view of the pending arbitral proceedings and the company's solvent financial position, the winding up remedy was not justified. The admission order and final winding up order were therefore set aside. en-us Mon, 13 Aug 2012 00:00:00 +0530 Wed, 13 Feb 2013 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218288 Winding up was held to be inappropriate where the petition rested on a bona fide disputed claim arising from a final bill under the same contract that was already in arbitration. The court noted that the dispute involved competing claims rather than an undisputed debt, and that the amount was secured by a bank guarantee. In view of the pending arbitral proceedings and the company's solvent financial position, the winding up remedy was not justified. The admission order and final winding up order were therefore set aside. Case-Laws Companies Law Mon, 13 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218288