( 1 ) THE applicants have filed the above referred company petition for winding up of the company on the ground that there is dead lock in the affairs of the company and also on the ground that the total liability of the company far exceeds the assets.

( 2 ) THE conspectus of the facts given in the petition are that the respondent-company is incorporated under the Companies Act known as Radhesh rubber Pvt. Ltd. It is stated in the petition that there is dead lock in the company and the total liability of the company far exceeds its liability. The respondent No. 2, one of the share-holder and the Director of the Company filed objection statement and contended inter alia therein that the allegations contained in the petition are not true, but nevertheless the fact that the company is not doing any business and that there are heavy bank liabilities, and the company suffered heavy loss, have been admitted. Apart from that, the respondent No. 2 also filed a company petition for winding up of the company.

( 3 ) THIS Court after hearing the parties, prima facie found that as there was no business transacted over the years and the company has already suffered heavy loss and