OM PARKASH GARGA Vs. SHIV GENERAL FINANCE (P) LTD.

JUDGEMENT

(1.) This is a shareholders' petition, under section 433(f) read with section 439 of the Companies Act, 1956, (hereinafter called the Act), for winding-up of Shiv General Finance Private Limited, respondent No.1 herein, (hereinafter called the company), on the ground, that it is just and equitable to do so.

(2.) The facts, as stated in the petition, in brief, are that company was incorporated on March 23, 1961, under the Act, as a private company, limited by shares, having its registered office at 5-M, Bhagat Singh Market, New Delhi. The objects, for which the company was formed, have been mentioned in its memorandum of association.

(3.) The authorised capital of the company is Rs. 5 lakhs, divided into 5,000 equity shares of Rs. 100 each. The issued, subscribed and paid-up capital of the company, is Rs. 1 lakh, divided into 1,000 shares of Rs. 100 each, and all the shares are fully paid up.