JUDGMENT

P. K. GOSWAMI, J.:—This appeal by certificate is against the common judgment of the Calcutta High Court in respect of respondents application for winding up and appellant s stay application relating to the Hind Overseas Private Limited, a private limited company (briefly the company).

2. The question that is raised in this appeal relates to the scope of Section 433 (f) of the Companies Act, 1956 (briefly the Act) and in particular whether the principles applicable in the case of dissolution of partnership could be invoked in the case of the company.

3. The allegations in the winding up petition before the High Court are as follows:-

The company was incorporated under the Act in August 1956. The nominal capital of the company is Rs. 5,00,000/- divided into 2,500 Equity shares of Rs. 100/- each and 2,500 unclassified shares of rupees 100/- each, the entire nominal capital has been issued and fully paid up.

4. The petitioners (respondents herein), Raghunath Prasad Jhunjhunwalla and his son, Phoolchand Jhunjhunwalla (hereinafter to be described as R. P. J. and P. C. J. respectively), and the members of their family hold 1875 shares in the company and the remaining 3125 shares are