( 1 ) THIS company petition is filed by Sri G. Subba Rao, chartered accountant, under section 433 (e) and (f), read with sections 434 (1) (a) and 439 (1) (b) of the Companies Act, 1956, and under rule 95 of the Companies (Court) Rules, 1959, praying that the respondent-company by name Rasmi Die-Casting Limited be wound up in accordance with the provisions of the Companies Act, 1956, and to pass such orders as this court deems proper in the circumstances of the case. In the petition it is stated that the petitioner as chartered accountant was associated with the respondent-company and a sum of Rs. 4 lakhs is due to the petitioner by the respondent-company on account of the professional services rendered by the petitioner and also in respect of the unsecured advances made by the petitioner through his wife as well in his capacity as the karta of the Hindu undivided family, etc. It is further stated that in view of various claims which the petitioner had against the respondent-company a memorandum of settlement was drawn up on 25/09/1993, between the petitioner and Mr. K. S. S. Niranjan Rao representing the respondent-company and in terms of the said memorandum of un