(1.) This petition for winding up is by the company itself on the grounds set out in section 433(a), (e) and (f) of the Companies Act, 1956, i.e., on the footing that a special resolution to that effect has been passed and also on the ground that the company is not able to carry on any business or any of its objects and it is just and equitable that the company be wound up by this court.
(2.) This petition has been opposed by the Maharashtra General Kamgar Union (hereinafter to as "the union") and by one Pandurang Hari Mhatre who represents 1,700 workers, some of whom admittedly are members of the Maharashtra General Kamgar Union.
(3.) It is necessary to set out the history relating to the incorporation of this company and the facts leading up to this petition.