https://www.taxtmi.com/caselaws?id=384034 The court dismissed Megasoft's application challenging the maintainability of the winding-up petition. It held that the Stock Purchase Agreement does not violate Clause 7.5 of the Master Services Agreement, Infogix qualifies as a creditor under Section 434(1) of the Companies Act, and the continued existence of Agilis does not negate Infogix's rights. The court indicated that the issue of whether Infogix is a creditor is a triable issue to be decided on merits in the main company petition. Consequently, the application was dismissed without costs, and Megasoft was advised to address the main petition on its merits. en-us Wed, 06 Mar 2019 00:00:00 +0530 Sun, 04 Aug 2019 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384034 The court dismissed Megasoft's application challenging the maintainability of the winding-up petition. It held that the Stock Purchase Agreement does not violate Clause 7.5 of the Master Services Agreement, Infogix qualifies as a creditor under Section 434(1) of the Companies Act, and the continued existence of Agilis does not negate Infogix's rights. The court indicated that the issue of whether Infogix is a creditor is a triable issue to be decided on merits in the main company petition. Consequently, the application was dismissed without costs, and Megasoft was advised to address the main petition on its merits. Case-Laws Companies Law Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384034