Rajiv Sahai Endlaw, J.;—

1. This appeal under Section 483 of the Companies Act, 1956 challenges the order dated 19.09.2012 of the learned Company Judge of this Court admitting Company Petition No.321/2010 filed by the respondent under Sections 433(e), 434 and 439 of the Act read with Companies (Court) Rules, 1959 for winding up of the appellant, though deferring the publication of the citation for four weeks to give a chance to the appellant to pay the sum of Rs. 2,26,05,872/- in which the appellant has been found to be indebted to the respondent along with interest at 9% per annum, to the respondent. We have heard the counsel for the appellant for a considerable length at the admission stage itself. The respondent being on caveat, appears though counsel.

2. The appellant Company had let out Flat No.101, Nisarg Building 1340-41, Pali Hill, Bandra (West), Mumbai belonging to it to the respondent and had written a letter dated 10.10.2005 to the respondent containing the terms and conditions on which the flat was so offered to the respondent. It was inter alia mentioned in the said letter that the flat was to be for use as a Guest House of the respondent on a rent of Rs. 1,50,000/- per

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