https://www.taxtmi.com/caselaws?id=199420 A winding up petition may be invoked only where the petitioner is affirmatively shown to be a creditor within the meaning of the Companies Act. Where creditor status is seriously disputed and depends on proof of underlying debentures or a debenture trust deed alleged to be sham or fictitious, the Court need not resolve the dispute on affidavits alone and may refuse to exercise winding up jurisdiction. The claimant may be left to establish the debt in other proceedings. On the stated facts, the petitioners did not satisfy the Court that they were creditors entitled to maintain the winding up petition, and dismissal was upheld. en-us Tue, 12 Apr 1960 00:00:00 +0530 Wed, 28 Feb 2018 12:29:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199420 A winding up petition may be invoked only where the petitioner is affirmatively shown to be a creditor within the meaning of the Companies Act. Where creditor status is seriously disputed and depends on proof of underlying debentures or a debenture trust deed alleged to be sham or fictitious, the Court need not resolve the dispute on affidavits alone and may refuse to exercise winding up jurisdiction. The claimant may be left to establish the debt in other proceedings. On the stated facts, the petitioners did not satisfy the Court that they were creditors entitled to maintain the winding up petition, and dismissal was upheld. Case-Laws Companies Law Tue, 12 Apr 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199420