J U D G M E N T

C.K. Thakker, J.

1. Leave granted.

2. Both these appeals have been instituted against common judgment and order passed by the Division Bench of the High Court of Judicature at Bombay (Original Side) dated February 20/21, 2006 in Appeal Nos. 449-450 of 2005 in Company Petition No. 857 of 2004. First appeal has been filed by Severn Trent Water Purification Inc. while the second appeal is filed by Chloro Controls (India) Pvt. Ltd.

3. The facts giving rise to the present appeals, in brief as noted by the Division Bench of the High Court are as follows.

4. Severn Trent Water Purification Inc., USA (hereinafter referred to as "Severn Trent") filed a petition for winding up the Capital Controls (India) Private Limited (hereinafter referred to as 'the Company') on just and equitable grounds under Section 433(f) of the Companies Act, 1956 (hereinafter referred to as 'the Act'). The learned Company Judge by his order dated 21st April 2005 admitted the company petition. Aggrieved thereby two appeals came to be filed. One appeal (Appeal No. 449 of 2005) was filed by Chloro Controls (India) Private Limited, which has 5