A.K.Banerjee, J. - (1.) -East India Wires Private Limited was incorporated in 1990. The founder directors were one Sitaram Poddar and the petitioner. The company was formed for the purpose of setting up a wire factory on a land belonging to the petitioner and his brothers. After the formation of the company the land was leased out by the petitioner and his brothers to the company. The company was incorporated on 18th August, 1990 and the lease was executed on 5th December, 1990. After the formation of the company and after the lease was executed the company applied for necessary Government permission and/or licence. On 20th May, 1992 the Government of West Bengal issued a provisional certificate for setting up the said factory. The validity of the said licence was extended on 24th May, 1994. On 22nd May, 1995 the petitioner resigned from the Board of Directors (the said fact was, however, disputed by the learned counsel appearing for the petitioner).
(2.) Dispute and differences arose between Poddars and Ghoshes which had resulted in Civil litigation being T.S. No 40 of 2000 pending before the 3rd Civil Judge, Alipore inter alia for recovery of possession of the land in question.
(3.) The petitioner made this application on 25th July, 2000 before this Court inter alia praying for winding up of the said company on two grounds:- (i) The company had not commenced its business since incorporation. (ii) The company had not complied with the statutory requirements by holding annual general meeting and by filing balance sheet and other statutory documents with the Registrar of Companies, West Bengal.;