https://www.taxtmi.com/caselaws?id=195509 The court dismissed the respondent company's defense in a winding up petition filed by petitioners for recovery of Rs. 22,49,041.10, arising from an inter-corporate deposit. The court found the transaction to be a straightforward deposit, not part of a multi-party arrangement as claimed by the company. The court directed the company to deposit Rs. 20 lakhs within two months, with dismissal of the petition upon compliance. Failure to deposit would lead to admission of the winding up petition, showcasing the court's detailed analysis and decision in the matter. en-us Mon, 21 Dec 1998 00:00:00 +0530 Thu, 02 Nov 2017 11:52:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195509 The court dismissed the respondent company's defense in a winding up petition filed by petitioners for recovery of Rs. 22,49,041.10, arising from an inter-corporate deposit. The court found the transaction to be a straightforward deposit, not part of a multi-party arrangement as claimed by the company. The court directed the company to deposit Rs. 20 lakhs within two months, with dismissal of the petition upon compliance. Failure to deposit would lead to admission of the winding up petition, showcasing the court's detailed analysis and decision in the matter. Case-Laws Companies Law Mon, 21 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195509