https://www.taxtmi.com/caselaws?id=270879 The court dismissed the petition for winding up the respondent company. It concluded that the amount claimed by the petitioner was in the nature of a penalty and not an admitted debt, and the petitioner failed to prove actual loss suffered due to the breach of the agreement. Therefore, the respondent company could not be directed to be wound up based on the claimed amount. en-us Fri, 04 Sep 2015 00:00:00 +0530 Fri, 15 Jan 2016 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270879 The court dismissed the petition for winding up the respondent company. It concluded that the amount claimed by the petitioner was in the nature of a penalty and not an admitted debt, and the petitioner failed to prove actual loss suffered due to the breach of the agreement. Therefore, the respondent company could not be directed to be wound up based on the claimed amount. Case-Laws Companies Law Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270879