A.K.Banerji, J. - (1.) By means of the aforesaid petition filed under Sections 433(e) and 434 of the Companies Act, 1956 ("the Act" in short), Fortis Financial Services Limited ("the petitioner" in short) has sought the winding up of the company, K.H.S..L. Industries Limited, having its registered office at Somdutt Plaza, The Mall, Kanpur (respondent-company) on the ground that the said respondent is indebted to the petitioner and having failed to pay the dues of the petitioner despite receipt of the statutory notice, shall be deemed to be unable to pay its debts and, consequently, wound up.
(2.) On April 22, 1997, this court issued notice to the respondent-company to show cause why this petition may not be admitted and advertised. In response to the said notice, the respondent-company entered appearance and filed a counter-affidavit (A-7). It has also filed an application stating that the winding up petition be dismissed in view of the preliminary objection raised by the respondent. A rejoinder has been filed by the petitioner to the said counter-affidavit denying and controverting the allegations made therein.
(3.) I have heard Shri R. P. Dubey, advocate, on behalf of the petitioner and Shri R. P. Agrawal, learned counsel for the respondent on the question whether this petition should be admitted and advertised. I have also perused the affidavit filed by the parties.;