P.K.Deb, J.

1. The petitioners in this case are the share holders of O.P. No. 1- Company, namely, Steel City Comto Aids Private Ltd.

2. The aforementioned Company was incorporated with an authorised capital of Rs. 10.00 lacs which was divided into 10.000 equity shares of Rs. 100A each. The registered office of the Company is at Adityapur, Jamshedpur. The Promoter Directors were Shri G.P. Agrawal having 10 shares, Smt. Veena Agarwal having 10 shares and petitioner No. 1 T.B. Bugli having 10 shares with 30 shares of 100 each. The Promoter directors invested money including the aforesaid Rs. 3,000.00 in the following manner:

(1) Shri G. P. Agrawal Rs. 73,017.16

(2) Smt. Veena Agrawal Rs. 54,407.88

(3) Shri T.B. Bugli Rs. 2,70,409.55

(petitioner No. 1)

(4) Smt. M.T. Bugli Rs. 2.17.802.00

(Petitioner No. 2) --------------------

Total Rs. 6.15.636.59

3 At that time petitioner No. 2 was a minor. But for running the Company and its works a loan was taken from the B.S.F.C. (O.P. No. 2) which was to be repaid by Company to the tune of Rs. 27,06,844,00 in the year 1987. It is stated that the productio