( 1 ) THIS petition has been filed undet Ss-433 (a) (e) and (f) read with S. 439 of the Companies Act, 1956 for winding up of the petitioner- company. Prior to filing of this petition, the petitioner has filed petition under Rs. 397 and 398 of the Companies Act before the Company Law Board. Certain ex parte interim orders were passed m that petition by the Company Law Board. In para 21 of the petition the petitioner has stated that petitioner no. 1 was of the view that winding up would be prejudicial to the company and unfair to the interest of petitioner no. l and, therefore, petition before the Company Law Board, as aforesaid, was filed but the present petition has been filed by the petitioner contending that petitioner no. 1 is holding more than 99 per cent shares and petitioner is no longer interested in the running of hotel and, therefore, he has no interest in prosecuting Petition No-16/95 pending before Company Law Board, New Delhi.

( 2 ) THE main contention of counsel appearing for the petitioner Mr. Satish Chandra is that only ground asgitated in the petition is that the company should be wound up on just and equitable ground. The case put up by the petit