Tuesday, March 15, 2016

HC rejected winding up plea as respondent had not acknowledged debt and wasn't liable to pay debt

The High Court of Gujarat held that where there was no privity of contract between petitioner and
respondent-company, and respondent had also not acknowledged its debt, it was not liable to make
any payment to petitioner, hence petition for winding up respondent-company at instance of
petitioner was not maintainable.