(1.) Invoking Sections 433 (e) and 434 of the Companies Act, 1956, this company petition has been filed for winding up of the respondent Company.
(2.) Facts pleaded in the petition to claim relief of winding-up are as under: -
(3.) Mr. Prafull Bharat, learned counsel appearing for the petitioner, would submit that the respondent Company is unable to pay its debt as it is commercially insolvent and therefore the present company petition be admitted for winding-up of the respondent Company.