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2014 (3) TMI 53 - HC - Companies LawWinding up petition - unable to pay debts - whether the defense raised by the respondent is bonafide or not - Held that:- the dispute between the parties is extant and not illusory. The exchange of emails clearly indicate that the disputes raised by the respondent are bonafide and contemporaneous to the claim made by the petitioner in 2010. The respondent has stated in its reply that the software applications provided by the petitioner are not being used on account of the defects. This clearly would raise a substantial dispute and in the circumstances it cannot be held that the disputes raised by the respondent are not bonafide. Following the decision in IBA Health (I) (P.) Ltd. [2010 (9) TMI 229 - SUPREME COURT OF INDIA], the winding up petition for nonpayment of the invoice would not be maintainable.
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