9911796707
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Issues:
Admission of winding up petition without finding on bona fide disputes; Disputed service of statutory notice; Merits of the petitioning creditor's claim. Analysis: 1. The appeal challenges an order admitting a winding up petition without a finding on bona fide disputes. The company disputed the service of the statutory notice and raised substantial disputes regarding the petitioning creditor's claim, including the absence of the creditor's name in the company's balance sheet. The notice in question lacked identification of the signatory and the company seal, leading to factual disputes on its delivery and receipt by the director of the company. 2. The petitioning creditor argued that sending the notice via registered post creates a presumption of service, but this presumption is rebuttable. Despite the registered post, the director denied receiving the notice, leading to unresolved factual disputes inappropriate for winding up proceedings. 3. Regarding the merits of the petitioning creditor's claim, the court found discrepancies in the claim particulars and supporting documents. The claim amount lacked specific details and was based on a confirmation letter signed under questionable circumstances. The company vehemently denied the claim, stating the creditor was owed a different amount not reflected in the balance sheet. The letter of confirmation was discredited due to doubts about its authenticity and the signatory's authority. 4. The court concluded that the learned Company Judge erred in admitting the petitioning creditor's claim without properly considering the bona fide disputes raised by the company. The disputes were deemed genuine, and a winding up petition was deemed unsuitable for resolving such contested claims. The judgment allowed the appeal, setting aside the Company Judge's order without imposing costs, while preserving the petitioning creditor's right to pursue legal action within the limits of the law. 5. In summary, the judgment highlights the importance of addressing bona fide disputes before admitting a winding up petition, emphasizes the need for clear and verifiable documentation in creditor claims, and underscores the limitations of summary proceedings in resolving contentious financial matters.
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