( 1 ) ONE Mr. S. N. Bhalla claiming himself to be the creditor of M/s Soldier united Motor Transport Company Limited (hereinafter referred to as the company) filed CP No. 64/1978 seeking winding up of the company on the ground that the company owed a debt of Rs. 62,380. 65 paise which it was unable to pay. The amount claimed by the petitioner was on account of arrears of rent in respect of the premises bearing No. C2/13, Vasant Vihar, new Delhi let out by the petitioning creditor to the company at a rental of rs. 1,800/- per month with effect from 7th July, 1974 for the residence of one of its directors. In this petition, winding up order dated 3rd August, 1979 was passed. This order reads as under:

"the petition for winding up of Soldiers United Motor Transport company (P) Limited must succeed on the short ground that the only asset of the Company consists of certain route permits and the Company is admittedly unable to pay its debts and has indeed failed to pay to the petitioning creditor in spite of a number of opportunities that there given for that purpose. A cheque that was last handed over to counsel for the petitioner has bounced. Shri Khanna who appears for