If debt is subject to a bona fide dispute, the Court will not order for winding up

HIGH COURT OF GUJARAT GHCL Ltd. Versus Thomas Ernest Dixon O.J. Appeal No. 60 of 2009 Co. Petition No. 20 of 2009 September 26, 2012 JUDGMENT N.V. Anjaria, J.  The original petitioner-opponent herein Vanguard Textiles Ltd. (VTL) approached learned Company Judge by filling a petition under section 433 read with section 434 of the Indian Companies Act, 1956, praying for winding up of the appellant company. It is the case of original petitioner that the appellant is indebted in respect of the dues payable towards price of goods supplied to one Rosebys Operations Limited, a fore...