The Delhi High Court, while hearing an appeal from the Order of the Company Court reiterated the settled law that proceedings under Section 433(e) of the Companies Act, 1956 would lie only in respect of debts that are admittedly due.
Petition for winding-up was preferred by an ex-employee of a company, on the ground that it had failed to pay his dues. The respondent company had resisted the petition before the Company Court inter alia on the grounds that the appellant had stopped reporting for work immediately without furnishing the required three months' notice before leaving employment. The Company Court accordingly held that the respondent company could not be wound up on account of non-payment of disputed claims.
The Hon’ble High Court upheld the judgment of the Company Court and noted that the claims were subject matter of some controversy. The Hon'ble High Court further held that the company is not liable to be wound up under Section 433(e) of the Companies Act,1956 in respect of debts that are disputed.
Rahul Kulshreshtha v. Triveni Media Ltd.
[2024] 161 taxmann.com 281 (Delhi)
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