https://www.taxtmi.com/caselaws?id=459294 The HC dismissed a winding up petition filed under Companies Act, 1956 against a hospital company for unpaid debt of Rs. 5,96,907/-. The court found the respondent company financially healthy and operating profitably. While acknowledging the debt, the court noted a genuine dispute regarding Rs. 3,64,000/- for a pacemaker supply, where payment was contingent on reimbursement from ECHS. The respondent demonstrated willingness to pay undisputed amounts within one month and the disputed amount upon receiving ECHS reimbursement. Given the company's financial viability and readiness to settle debts, winding up was deemed inappropriate. en-us Tue, 04 Nov 2014 00:00:00 +0530 Sat, 07 Dec 2024 19:39:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459294 The HC dismissed a winding up petition filed under Companies Act, 1956 against a hospital company for unpaid debt of Rs. 5,96,907/-. The court found the respondent company financially healthy and operating profitably. While acknowledging the debt, the court noted a genuine dispute regarding Rs. 3,64,000/- for a pacemaker supply, where payment was contingent on reimbursement from ECHS. The respondent demonstrated willingness to pay undisputed amounts within one month and the disputed amount upon receiving ECHS reimbursement. Given the company's financial viability and readiness to settle debts, winding up was deemed inappropriate. Case-Laws Companies Law Tue, 04 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459294