https://www.taxtmi.com/caselaws?id=169804 A winding-up petition is maintainable only if the creditor shows an existing debt and the company's inability to pay it; a genuinely disputed debt cannot be used to force payment through winding-up proceedings. Mere denial is not enough, but a dispute must be bona fide and real. On the stated facts, the company's objections were treated as manufactured, while correspondence indicated admission of liability and the financial material showed continuing losses and commercial inability to meet debts. en-us Tue, 29 May 1962 00:00:00 +0530 Sat, 09 May 2015 11:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169804 A winding-up petition is maintainable only if the creditor shows an existing debt and the company's inability to pay it; a genuinely disputed debt cannot be used to force payment through winding-up proceedings. Mere denial is not enough, but a dispute must be bona fide and real. On the stated facts, the company's objections were treated as manufactured, while correspondence indicated admission of liability and the financial material showed continuing losses and commercial inability to meet debts. Case-Laws Companies Law Tue, 29 May 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169804