Bona Fide Dispute on Debt Bars Winding Up Petition Under Section 433(e): MP HC

Mahavir Enterprises Vs Gwalior Sugar Company Ltd. (Madhya Pradesh High Court) The petition was filed under Sections 433(e), 434(1)(a) and 439(1)(d) of the Companies Act seeking winding up of the respondent company. Before hearing the matter on merits, the dispute was referred to mediation. As conciliation failed, the High Court proceeded to hear the petition finally with the consent of the parties. The petitioner, a proprietorship firm engaged in the business of steel tubes, brass tubes, copper products and allied goods, contended that the respondent company had placed purchase orders for vari...