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Company Faces Winding Up u/s 433(e) for Unpaid Debts; Not a Substitute for Disputed Debt Recovery.

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....Winding up of respondent company under Section 433 (e) on the ground of inability to pay the debt - proof of bonafide debt - It is settled position in law that winding up proceeding cannot be used as a tool to recover the bona-fidely disputed debts as a substitute for recovery suit.....

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