https://www.taxtmi.com/caselaws?id=288042 A winding up petition under Section 434 of the Companies Act, 1956 is not maintainable where the alleged debt is subject to a bona fide dispute and raises triable issues, including limitation. The Court found that the claimed subcontract amount appeared to arise from work completed long before filing, making the limitation objection substantial. It also held that the TDS certificate did not constitute an acknowledgment of liability, and the certificates relied on did not show admission by the company. Because the dispute required adjudication in a civil suit or arbitration rather than winding up proceedings, the petition was dismissed. en-us Fri, 30 Jan 2015 00:00:00 +0530 Fri, 15 May 2020 09:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288042 A winding up petition under Section 434 of the Companies Act, 1956 is not maintainable where the alleged debt is subject to a bona fide dispute and raises triable issues, including limitation. The Court found that the claimed subcontract amount appeared to arise from work completed long before filing, making the limitation objection substantial. It also held that the TDS certificate did not constitute an acknowledgment of liability, and the certificates relied on did not show admission by the company. Because the dispute required adjudication in a civil suit or arbitration rather than winding up proceedings, the petition was dismissed. Case-Laws Companies Law Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288042