( 1 ) O. S. A. NO. 5 of 1998 is directed against the Judgment and order passed by the learned single Judge dated 12. 8. 1997 passed in C. P. No. 71 of 1996 dismissing the company petition filed by the appellant.

( 2 ) M/s. Stiles India Limited, the respondent herein, is a company incorporated under the Companies Act, 1956 (for short, the Act), having its registered office at Hyderabad and it is carrying on business activities at Lakshminagaram, Konangivaripalli, Tirupati-Chittoor Highway. Chandragiri Mandal, Chittoor District. The authorized capital of the respondent-company is Rs. 9 crores divided into 90 lakh equity shares of Rs. 10. 00 each. The main object of the respondent- company is to carry on business of manufacture and dealing in Ceramic and Stoneware tiles. Mr. M. Suryanarayana, the appellant herein, and the petitioner in C. P. No. 71 of 1996, had worked as General Manager (Finance) in the respondent-company till the end of December, 1994 and left the company with effect from 1. 1. 1995. According to him, he is entitled to receive arrears of salary for a period of five months i. e. , for the period from August 199 4/12/1994 at the rate of Rs. 18,500. 00 p