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2014 (6) TMI 748 - KARNATAKA HIGH COURTWinding up of company - Inability to pay debts - Bonafide defence - Held that:- Respondent has seriously disputed its liability, only with reference to any undertaking to pay a certain amount of money, in the face of other attendant circumstances and the negation of the very basis for any such liability in the first instance being in the nature of a debt. - It is well settled that a creditor may seek the assistance of the company court under dection 433 of the Act, to compel payment of monies due to him. But, where a debt is bona fide disputed and where the claim appears to the court as not just, it is open to the court to refuse the request for a winding up order and to leave the parties to their remedies, to have their claims adjudicated before the appropriate forum. - prima facie, that the defence raised is bona fide and is likely to succeed in a civil court. Hence the petition is rejected - Decided against Petitioner.
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