2001 (11) TMI 938 - HC - Companies Law

Summary

The High Court of Karnataka dismissed the appeal against the order declining to wind up the company. The court found that the company had made payments exceeding the amount claimed by the appellant. The court emphasized that non-payment under a contractual agreement does not constitute an admitted debt, and the Company Court cannot act as an ordinary Civil Court. The appeal was dismissed as there was no error in the order of the Single Judge.