Court Rejects Winding Up Petition u/ss 433(e) and (f) of Companies Act; Defenses Not Bona Fide.

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....Admissibility of Winding up petition filed invoking Sections 433 (e) and (f) of the Companies Act, 1956 - appointment of the Official Liquidator - The admission of the winding up petition is not automatic. If the debt is bonafidely disputed and the defence is a substantial one, the Court will not wind up the company. Therefore, before admitting such a petition, it needs to be ascertained by the Company Court, what defence the Company has taken and whether the said defence can be said to be bonafide - Both the defences raised by the appellant are rejected. At least, they are not accepted as bonafide defence. - HC....