( 1 ) THIS is an appeal by one Devi Dayal Marwah against the order of our learned brother, Satyanarayana Raju, J. in O. P. 4 of 1959 directing the winding up of the Deccan Porcelain and Potteries Ltd. , Saifabad, Hyderabad. The Original Petition was filed by the State of Andhra Pradesh represented by the Secretary to Government, Industries (Industrial Fund) Department, Hyderabad under Section 439 of the Indian Companies Act (I of 1956) praying that in the circumstances stated in the affidavit filed therewith the High Court may be pleased to wind up the said company by order of the Court.

( 2 ) THE company was incorporated under the Hyderabad Companies Act (IV of 1320 F) in the Fasli year 1352 with its registered office at Saifabad in Hyderabad. It had a nominal capital of Rs. 10 lakhs O. S. (Rs. 8,57,142-13-9 I. G.) divided into 40,000 ordinary shares of Rs. 25 O. S. each. The paid up capital was Rs. 4,47,734-12-0 O. S. (Rs. 3,83,772-10-4 I. G. ). The Company was constituted for the purpose of acquiring the business of the Hyderabad Potteries and to carry on the business of manufacturers, buyers and dealers in all kinds of clay work, chemical preparations and glazes what