Debtor Company Cannot Dispute Its Liability for the First Time During Winding-Up Proceedings Under Companies Act: Bombay High Court
The Bombay High Court has dismissed an appeal filed by M/s. Bassein Metals Pvt. Ltd. against a 2007 winding-up order, ruling that the company’s claim of a “bonafide dispute” over debt was an afterthought and unsupported by any substantive evidence. The Court confirmed the company’s inability to pay, citing its lack of business activity and assets. Appeal Against Winding-Up Rejected A division bench of Justices M.S. Sonak and Jitendra Jain…
