APIIC's failure to dispute liability or address delays bars them from claiming a bona fide dispute in winding-up proceedings.

No action having ever been initiated by the APIIC to raise a dispute as to its liability to pay the amount aforestated or as to delayed discharge of contractual obligations by the company petitioner, it is too late in the day for it to now raise the ruse of a bonafide dispute to ward off the summary proceedings initiated under the Act of 1956 for its winding up. - HC .....

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