JUDGMENT - Coyajee, J.

1. This is a petition, resented by the petitioners who are creditors in the sense that they are debenture holders to the extent of Rs. 8,00,000 in the company, namely Hirjee Mills Ltd. and they are asking for an order that the Hirjee Mills Ltd. be wound up under the provisions of the Indian Companies Act and they are asking also for the appointment of the court liquidator.

2. Before I go to the details set out in the petition and in the affidavit I may make certain preliminary observations. The first is that in fact the petitioners are not the only secured creditors and there are other debenture holders who have not come before the court and made any submissions either way nor have the Bank of Baroda Ltd. who are mortgagees and the first mortgagees come before this court to make any submissions on this petition. The petitioners are supported by two very small creditors, one to the extent of Rs. 1,400 odd and another to the extent of Rs. 700 odd. On the other hand this petition is opposed by the company as well as by four Bhadanis who are depositors to the extent of Rs. 26,00,000 and there is another party Devnarain Shivnarain who is a creditor to the extent of

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