R. V. VASANTHA KUMAR, J.

( 1 ) THIS petition arises out of an action initiated for winding up of the respondent company (hereinafter called as 'the Company') under Section 433 (e) of the Companies Act, 1956 (hereinafter referred to as the 'act' ).

( 2 ) THE question that arises for consideration in this company petition is about the exercise of powers of company court in respect of a petition filed under Section 433 (e) of the Companies act, 1956 (Central Act 1 of 1956) even before issuing notice regarding admission?

( 3 ) THE petitioner claims to be a creditor of there spondent company and has caused a notice dated 3-12-1994 to be served on the company. Eventhough there is no mention in the notice that the same having been issued under Section 434 (i) (a) of the Act there is a mention that the same to be treated as a statutory notice under Section 434 of the Act. There is a demand for payment of debt. After the expiry of statutory period this company petition has been presented for winding up of the company on the averments that the company is unable to pay its debts. Relevant averments are found at para 11 of the petition. It reads:"the petitioner submits that the company is in dir

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