MEDIQUP SYSTEMS PVT. LTD. vs PROXIMA MEDICAL SYSTEM GMBH

The Supreme Court addressed the appeal against the Calcutta High Court's dismissal of a winding up petition under Section 434 of the Companies Act. The Court held that the appellant-Company's dispute over the liability to pay US $ 16,000 was valid, particularly regarding US $ 11,000, which should be repatriated to the remitter. The Court emphasized that the Company could raise all defenses in a subsequent suit, affirming the High Court's order to deposit the amount pending adjudication.