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2009 (7) TMI 777 - HC - Companies LawWinding up petition - Circumstances in which a company may be wound up - Held that:- The sum total of the amounts held to be valid counter-claims raised in his reply by the appellant would add up to 2,79,0275 which, if proved, would be over and above the debt claimed to be due to the respondent before us. In this conspectus, we are of the view that the appellant had successfully disclosed before the learned Company Judge that there was a defence to the claim ventilated in the winding up petition. The legal consequence ought to have been that the learned Company Judge should have directed the petitioner to prove its claim in a civil suit. In the light of the facts and circumstances of the present case, the winding up order shall stand recalled. The Appeal is, accordingly, allowed.
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