SYNTHETIC WIRE INDUSTRIES LTD Vs. STATE

JUDGEMENT

(1.) This is an application under Sections 433, 434 and 439 of the Companies Act, 1956, for the winding up of a company.

(2.) The facts relating to the application may be briefly noted.

(3.) On May 15, 1981, the petitioner, according to the petition, lent and advanced a sum of Rs. 45,000 by way of an accommodation loan to M/s. Synthetic Wire Industries P. Ltd., a company incorporated under the Companies Act, 1956, having its registered office at No. 12A, Camac Street, Flat No. 2B, Calcutta-17 (hereinafter referred to as " the company"); According to the petition, the agreed rate of interest was 18% per annum.