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2015 (12) TMI 1721 - HC - Companies LawWinding up petition - petitioner have a claim of Euro 447,798.50/- against the respondent which was payable under a letter of guarantee issued by the respondent and the respondent has failed and neglected to make the payment - whether the respondent has a bonafide defense? - Held that:- Exchange of correspondence, copies whereby filed alongwith various affidavits that the dispute raised by the respondent was substantial and genuine and not spurious, speculative or misconceived. The company court cannot hold a full trial of the matter. The company court has to only see whether the ground appeared to be substantial. In my view, the ground of dispute raised is rather substantial.
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