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2010 (7) TMI 773 - HC - Companies LawWinding up - inability to pay - petitioner relied upon term of the purchase order that 85 per cent of the invoice value shall be paid after 60 days from the date of dispatch but since such payment has not been made, the respondent has failed to discharge contractual obligations - respondent that the UPS unit supplied by the petitioner were defective – Held that:- defence of the respondent cannot be said to be untenable only for the purpose of defeating the claim of the petitioner. There exist serious disputes between the parties in respect of quality of the goods and the time when such defects were rectified. It cannot be said that it is a case of non-payment of admitted liability, petition is dismissed
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