https://www.taxtmi.com/caselaws?id=284286 The court dismissed the petitions seeking winding up of the respondent company under Section 433(e) and (f) of the Companies Act, 1956. The court held that the amount claimed for compensation for breach of the Annual Maintenance Contract constituted unliquidated damages, not a debt, as it required adjudication. The court emphasized that the claim for damages needed further assessment and did not establish the respondent's inability to pay debts. Consequently, the court ruled in favor of the respondent, dismissing the petitions. en-us Tue, 04 Dec 2018 00:00:00 +0530 Mon, 11 Nov 2019 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284286 The court dismissed the petitions seeking winding up of the respondent company under Section 433(e) and (f) of the Companies Act, 1956. The court held that the amount claimed for compensation for breach of the Annual Maintenance Contract constituted unliquidated damages, not a debt, as it required adjudication. The court emphasized that the claim for damages needed further assessment and did not establish the respondent's inability to pay debts. Consequently, the court ruled in favor of the respondent, dismissing the petitions. Case-Laws Companies Law Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284286