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2018 (3) TMI 1642 - HC - Companies LawWinding up petition - bonafide debt - no document of admitted liability - Held that:- There is no document of admitting the liability on record. Though the petitioner is placing reliance upon the alleged ledger account for the period 1.4.2014 to 31.3.2015 and 1.4.2015 to 23.2.2016 (Annexure P/1) but the said ledger account is not signed by any of the parties and is a disputed document, therefore, petitioner is required to lead evidence and establish the debt. In the present case the debt has been bonafidely disputed by the respondent. That apart the respondent is a running hospital and there is no sufficient and cogent material on record to hold that the substratum of the respondent-Company has eroded. The petitioner has also raised a plea in respect of discrepancy in the TDS amount and the payment made but such disputed discrepancy alone is not sufficient to infer the debt or the inability to pay debt. In absence of any document of admitted liability or any undisputed document reflecting the debt due, this Court is of the opinion that it would not be proper in the facts of the present case to invoke the provisions of Section 433 of the Companies Act for winding up of the respondent-company.
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