( 1 ) THE petitioner, M/s. Export Enterprises Private Ltd. , is an existing private limited company within the meaning of the Companies Act, 1956 (for convenience, the petitioner would hereinafter be referred to as the "said company" ). It has been stated that the said company at all material times carried on and still they are carrying on business dealing with imported materials under import licences, which were previously sanctioned in favour of Maharajkumari C. Pheunkhang, sister of the Chogial of Sikkim, by the Govt. of India for the purpose of enabling the said Maharajkumari and her family to enter into the business, and trade and to earn some income for the benefit of the family. The said company has stated that the same was virtually dependent upon the said Maharajkumari initially, for using the import licences granted in her favour, and subsequently through her in the name of the said company.

( 2 ) IT has further been stated that the said Maharajkumari was a director of the said company and as part of her duties, she used to undertake movements between different towns of India and outside, that apart, it has been stated that although the registered office o