https://www.taxtmi.com/caselaws?id=354138 A winding-up petition may be admitted where liability is admitted and the dispute is confined to quantification or currency conversion, because a mere disagreement over the exact amount due does not amount to a bona fide and substantial dispute. Here, the controversy was limited to whether payment had to be made in Swiss francs or Indian rupees and the applicable exchange rate, while the debt itself was not genuinely denied. The record also showed failure to clear the admitted dues despite notice and opportunity, supporting the finding that the company was unable to meet the liability. The objection based only on quantification was rejected and winding-up proceedings were set in motion. en-us Mon, 04 Dec 2017 00:00:00 +0530 Fri, 19 Jan 2018 08:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354138 A winding-up petition may be admitted where liability is admitted and the dispute is confined to quantification or currency conversion, because a mere disagreement over the exact amount due does not amount to a bona fide and substantial dispute. Here, the controversy was limited to whether payment had to be made in Swiss francs or Indian rupees and the applicable exchange rate, while the debt itself was not genuinely denied. The record also showed failure to clear the admitted dues despite notice and opportunity, supporting the finding that the company was unable to meet the liability. The objection based only on quantification was rejected and winding-up proceedings were set in motion. Case-Laws Companies Law Mon, 04 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354138