https://www.taxtmi.com/caselaws?id=269733 A winding up petition is not suitable where the company raises a substantial, bona fide, and triable dispute supported by prima facie material. Although unpaid invoices and non-response to statutory notice may ordinarily indicate inability to pay debts, that presumption was displaced by affidavit evidence of cross-transactions, alleged mutual adjustment of liabilities, and a claimed common commercial arrangement between the groups. The court treated the defence as real enough to require trial, held that summary liquidation could not be used to resolve contested commercial claims, and left equitable set-off for determination in civil proceedings. en-us Fri, 16 Oct 2015 00:00:00 +0530 Thu, 17 Dec 2015 17:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269733 A winding up petition is not suitable where the company raises a substantial, bona fide, and triable dispute supported by prima facie material. Although unpaid invoices and non-response to statutory notice may ordinarily indicate inability to pay debts, that presumption was displaced by affidavit evidence of cross-transactions, alleged mutual adjustment of liabilities, and a claimed common commercial arrangement between the groups. The court treated the defence as real enough to require trial, held that summary liquidation could not be used to resolve contested commercial claims, and left equitable set-off for determination in civil proceedings. Case-Laws Companies Law Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269733