Winding Up Petition Not a Tool for Debt Recovery or Pressuring Solvent Companies Over Disputed Debts.

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....Winding up of the respondent company seeked - It is well settled that proceeding for winding up, is not a proceeding for the recovery of outstanding dues. Nor for that matter, can the remedy of a petition for winding up be utilized to pressure a company which is commercially solvent to pay a debt which is bonafide disputed - HC....