https://www.taxtmi.com/caselaws?id=269830 A winding up petition based on debt was not defeated by the fact that the corporate guarantee was routed through a Hong Kong branch, because the bank remained the contracting promisee and branch routing did not negate privity. Alleged insufficiency of stamp duty on the guarantee was held not to bar reliance on it in winding up proceedings, which turned on the debt and the statutory presumption of inability to pay rather than proof of the instrument as in a suit. The absence of a contractual certificate also did not create a bona fide dispute where the guarantee, confirmations, facility acceptance, balance-sheet admission, and non-response to notice showed the liability was admitted in substance. en-us Mon, 19 Oct 2015 00:00:00 +0530 Wed, 30 Dec 2015 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269830 A winding up petition based on debt was not defeated by the fact that the corporate guarantee was routed through a Hong Kong branch, because the bank remained the contracting promisee and branch routing did not negate privity. Alleged insufficiency of stamp duty on the guarantee was held not to bar reliance on it in winding up proceedings, which turned on the debt and the statutory presumption of inability to pay rather than proof of the instrument as in a suit. The absence of a contractual certificate also did not create a bona fide dispute where the guarantee, confirmations, facility acceptance, balance-sheet admission, and non-response to notice showed the liability was admitted in substance. Case-Laws Companies Law Mon, 19 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269830