( 1 ) BROWN Forman Mauritius Limited ( hereinafter referred to as `the Petitioner` ) has invoked Section 433 (f) of the Companies Act (hereinafter referred to as `the Act ) which enunciates that a company may be wound up by the Court if it is of the opinion t hat it is just and equitable for such action to be taken. This section must be applied conjointly with section 443 (2) of the Act which enables the Court to refuse to order winding up if it appears to it that some other remedy is available to the P titioner which is unreasonably not being pursued. The prayer in this Petition is to order the winding up of Jagatjit Brown-Forman India Ltd. ( hereinafter referred to as the `company` ) in which the Petitioner and Jagatjit Industries Ltd. ( hereinafte referred to as `the Respondent` ) are equal shareholders, each entity holding fifty per cent of the Company s equity.

( 2 ) THE Petitioner has submitted that in actuality the Company was a 50-50 quasi partnership between the Petitioner and the Respondent, both of whom had equal representation on the Company s Board. In order to ensure equal status and power to the Petitio ner as well as the Respondent, the Chairman w