1975 (11) TMI 92 - HC - Companies Law

Summary

The appellant claimed to be a creditor of the respondent based on a loan advanced in 1958. The acknowledgment of the loan in balance-sheets from 1967 to 1968 was disputed. The directors' report stated certain liabilities were barred by limitation. The winding-up petition was filed in 1972. The court dismissed the appeal due to a bona fide dispute on limitation, allowing the appellant to pursue other remedies.