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2009 (12) TMI 524 - HIGH COURT OF DELHIWinding up - Circumstances in which a company may be wound up - Held that:- In the present petition, the petitioner has made incorrect claims against the respondent company, who has, in turn, not challenged them so far. The amount claimed by the petitioner may be disputed, and thus does not amount to a ‘debt’ for the purposes of winding up proceedings, as the term has been interpreted by the Supreme Court and various High Courts. The petition and the application are not maintainable in this Court at this stage and are, therefore, dismissed, without prejudice to the right of the petitioner to recover the amount it claims as due in a civil court.
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