https://www.taxtmi.com/caselaws?id=338302 The court upheld the order admitting the winding-up petition against APIIC, finding the debt genuine and admitted. APIIC's defense of disputed debt and reliance on arbitration clause were rejected. The court expressed concern over public funds wastage due to political decisions and emphasized political accountability. APIIC was granted two months to deposit the outstanding amount, failing which the winding-up petition would proceed. The appeal was dismissed with no costs awarded. en-us Tue, 03 Jan 2017 00:00:00 +0530 Mon, 30 Jan 2017 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338302 The court upheld the order admitting the winding-up petition against APIIC, finding the debt genuine and admitted. APIIC's defense of disputed debt and reliance on arbitration clause were rejected. The court expressed concern over public funds wastage due to political decisions and emphasized political accountability. APIIC was granted two months to deposit the outstanding amount, failing which the winding-up petition would proceed. The appeal was dismissed with no costs awarded. Case-Laws Companies Law Tue, 03 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338302