S.P.Mehrotra, J. - (1.) The present Company Petition purporting to be under Section 434/439 of the Companies Act, 1956 has been filed by Gupta Gasoline Distributor (petitioner), inter alia, praying that M/s. Sharda Refrigeration Co. Pvt. Limited having its registered office at 48/48A, Baluaghat, Allahabad (hereinafter referred to as 'the respondent-company') be wound up under the provisions of the Companies Act, 1956. The said Company Petition has hereinafter been also referred to as 'the Winding Up Petition'.
(2.) It is, inter alia, stated in the Winding Up Petition that the respondent company was incorporated on 7-2-1990 vide Incorporation No. 20-11632 of 1990 and that the registered office of the respondent-company is situated at 48/48A, Baluaghat, Allahabad; and that the respondent-company is a private limited company.
(3.) It is, inter alia, further stated in the Winding Up Petition that the respondent-company was appointed sole distributor of Birla Blue Flames Limited S.C.O. 837, Mani Majra, Chandigarh engaged in distribution of imported L.P.G. under the parallel Marketing of L.P. G. Policy of Government of India for several Districts of State of U.P. including District Meerut: and that the respondent company was assigned by Birla Blue Flames Limited to appoint dealers for Meerut District for the smooth running and effective working of the business in L.P.G. Cylinder; and that for this purpose, the respondent-company appointed the petitioner (Gupta Gasoline Distributor) as its sub-distributor for appointment of dealers in Meerut District; and that an agreement was entered into between the petitioner and the respondent-company on 6-11-1993 on the condition of payment of Rs. One lakh as security deposit; and that the amount was agreed to be refunded with interest at the rate of 24 per cent per annum; and that besides, premium of Rs. 3 lakhs was also charged bearing interest at the same rate.;