https://www.taxtmi.com/caselaws?id=275646 A winding up petition for inability to pay debts requires a clear, ascertained and undisputed liability. Where the company raises a bona fide dispute supported by material suggesting repayment, settlement, forgery, lack of authority, or disputed banking transactions, the controversy cannot be resolved in summary company court proceedings on affidavits alone. Issues such as repayment, genuineness of settlement, authority to sign, and alleged document manipulation require regular trial and evidence. In the absence of proof of insolvency or loss of substratum, a bona fide dispute negatives neglect to pay and the petition was not fit for admission or advertisement. en-us Fri, 16 Oct 1998 00:00:00 +0530 Thu, 11 Oct 2018 10:06:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275646 A winding up petition for inability to pay debts requires a clear, ascertained and undisputed liability. Where the company raises a bona fide dispute supported by material suggesting repayment, settlement, forgery, lack of authority, or disputed banking transactions, the controversy cannot be resolved in summary company court proceedings on affidavits alone. Issues such as repayment, genuineness of settlement, authority to sign, and alleged document manipulation require regular trial and evidence. In the absence of proof of insolvency or loss of substratum, a bona fide dispute negatives neglect to pay and the petition was not fit for admission or advertisement. Case-Laws Companies Law Fri, 16 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275646