https://www.taxtmi.com/caselaws?id=239574 The court admitted the winding-up petition under Section 433(e) of the Companies Act, 1956, due to the respondent's failure to pay debts amounting to Rs. 21,20,232/-. The court found the respondent's defense of non-existent concluded contracts lacking substance and not bona fide. Emphasizing the precedent set by the Supreme Court, the court ruled in favor of the petitioner, stating that a winding-up order can be granted even if the debt amount is disputed, as long as the existence of the debt is established. Further proceedings were scheduled for 20.03.2014. en-us Fri, 08 Nov 2013 00:00:00 +0530 Sat, 16 Nov 2013 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239574 The court admitted the winding-up petition under Section 433(e) of the Companies Act, 1956, due to the respondent's failure to pay debts amounting to Rs. 21,20,232/-. The court found the respondent's defense of non-existent concluded contracts lacking substance and not bona fide. Emphasizing the precedent set by the Supreme Court, the court ruled in favor of the petitioner, stating that a winding-up order can be granted even if the debt amount is disputed, as long as the existence of the debt is established. Further proceedings were scheduled for 20.03.2014. Case-Laws Companies Law Fri, 08 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239574