https://www.taxtmi.com/caselaws?id=355998 The court dismissed the petition for winding up the respondent company, emphasizing that the debt was disputed, not admitted. Bona fide disputes over the debt precluded a winding-up order, as non-payment of a disputed debt does not constitute neglect to pay under the Companies Act. The court highlighted the respondent's financial difficulties and ongoing legal proceedings, ultimately ruling in favor of the respondent, dismissing the petition and discharging the notice, with each party bearing their own costs. en-us Thu, 05 Oct 2017 00:00:00 +0530 Thu, 22 Feb 2018 06:41:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355998 The court dismissed the petition for winding up the respondent company, emphasizing that the debt was disputed, not admitted. Bona fide disputes over the debt precluded a winding-up order, as non-payment of a disputed debt does not constitute neglect to pay under the Companies Act. The court highlighted the respondent's financial difficulties and ongoing legal proceedings, ultimately ruling in favor of the respondent, dismissing the petition and discharging the notice, with each party bearing their own costs. Case-Laws Companies Law Thu, 05 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355998