https://www.taxtmi.com/caselaws?id=406204 The Supreme Court affirmed the decision of the Division Bench of the Punjab & Haryana High Court to admit the Company Petition for winding up the appellant due to its inability to pay admitted debts. The Court found that the appellant's defense was not bona fide and that the debt was not genuinely disputed. The Court clarified that the issue of interest on delayed payments was not addressed and left open for future proceedings. The appeal was dismissed, emphasizing the requirement for a bona fide and substantial defense in winding up cases. en-us Tue, 06 Apr 2021 00:00:00 +0530 Tue, 16 Nov 2021 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406204 The Supreme Court affirmed the decision of the Division Bench of the Punjab & Haryana High Court to admit the Company Petition for winding up the appellant due to its inability to pay admitted debts. The Court found that the appellant's defense was not bona fide and that the debt was not genuinely disputed. The Court clarified that the issue of interest on delayed payments was not addressed and left open for future proceedings. The appeal was dismissed, emphasizing the requirement for a bona fide and substantial defense in winding up cases. Case-Laws Companies Law Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406204