https://www.taxtmi.com/caselaws?id=459225 A winding-up petition based on unpaid salary failed where the alleged debt was bona fide disputed and the company raised a substantial defence. The Delhi HC reiterated that winding-up jurisdiction under the Companies Act, 1956 is not available unless the debt is undisputed and the statutory conditions are satisfied. It also confirmed that such proceedings cannot be used as a substitute for ordinary debt recovery when the defence cannot be rejected at the threshold as lacking good faith or substance. The petitioner was therefore left to pursue other remedies in law. en-us Fri, 15 Mar 2013 00:00:00 +0530 Thu, 05 Dec 2024 21:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459225 A winding-up petition based on unpaid salary failed where the alleged debt was bona fide disputed and the company raised a substantial defence. The Delhi HC reiterated that winding-up jurisdiction under the Companies Act, 1956 is not available unless the debt is undisputed and the statutory conditions are satisfied. It also confirmed that such proceedings cannot be used as a substitute for ordinary debt recovery when the defence cannot be rejected at the threshold as lacking good faith or substance. The petitioner was therefore left to pursue other remedies in law. Case-Laws Companies Law Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459225