H.N. Nagamohan Das, J.—In this petition filed under Section 433(e) and (f) of the Companies Act, 1956 the Petitioner is praying for an order to wind up the Respondent-company.

2. Petitioner-company contends that under an agreement of lease dated 24-12-2004 as per Annexure A they have taken on lease the premises bearing No. 26-27, Mahatma Gandhi Road, Bangalore and also the furniture and fixtures. Under a separate agreement for security deposit dated 24-12-2004 the Respondent-company has received and acknowledged the security deposit of Rs. 18,26,000 from the Petitioner -company.

3. During the subsistence of this lease, the secured creditor of the Respondent-company by name The Tamilnadu Industrial Investment Corporation Limited invoked the provisions of State Financial Corporations Act, 1951 and sold the premises and furniture in question by way of public auction. In the said public auction the Petitioner -company participated and became successful bidder for a sum of Rs. 2,30,00,000. On payment of sale consideration, the secured creditor has executed a registered sale deed in favour of the Petitioner -company on 14-6-2007 as per Annexure D.

4. According to the Petitioner, on exe