https://www.taxtmi.com/caselaws?id=459286 Gujarat HC dismissed winding up petition under Sections 433, 434, and 439 of Companies Act 1956. Court held that when considering winding up petitions, it must examine whether petitioner's claim is within limitation period and if respondent-company's defence is reasonable and bonafide. Court found respondent-company's defence was genuine, not an afterthought to hide inability to pay debts. Respondent-company remained a going concern without financial crisis or commercial insolvency, warranting dismissal of petition. en-us Mon, 14 Sep 2015 00:00:00 +0530 Fri, 06 Dec 2024 22:46:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459286 Gujarat HC dismissed winding up petition under Sections 433, 434, and 439 of Companies Act 1956. Court held that when considering winding up petitions, it must examine whether petitioner's claim is within limitation period and if respondent-company's defence is reasonable and bonafide. Court found respondent-company's defence was genuine, not an afterthought to hide inability to pay debts. Respondent-company remained a going concern without financial crisis or commercial insolvency, warranting dismissal of petition. Case-Laws Companies Law Mon, 14 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459286