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2013 (9) TMI 574 - HC - Companies LawWinding up of company - Dues not paid - Whether, winding up proceedings can be initiated for non payment of debt - Held that:- winding up petition is not a legitimate means of seeking to enforce payment of the debt which is bona fide disputed by the company - petition presented ostensibly for a winding up order but really to exercise pressure on the company will be dismissed and under certain circumstances may even be stigmatised as a scandalous abuse of the process of the Court - The defence put up by the respondent is not mere moonshine or of such nature as to be thrown out at the threshold itself as being without merit. It appears to me that these are issues which have to be examined in depth and that the Company Court cannot do so in proceedings under section 433(e) of the Companies Act. This is a hotly contested debt - Following decision of Amalgamated Commercial Traders Pvt. Ltd. vs A.C.K. Krishnaswami And Anr [1965 (1) TMI 16 - IN THE SUPREME COURT OF INDIA] - Decided against petitioner.
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