JUDGMENT

A.K. Sikri, J. These petitions, though for winding up of the respondent company (hereinafter referred as `the company'), raise interesting and, at the same time, important questions. There is a decree passed by this court in a civil suit which is based on compromise/settlement between the parties. The company now refuses to make payment in terms of the said decree and dubs this agreement as contrary to the mandatory provisions of Delhi Apartment Ownership Act, 1986 as well as against public policy. The company also states that the decree is a nullity and cannot be enforced and, therefore, it cannot be said that any "debt" is payable by the company to the petitioner in terms of the said decree. Whether the Company Court can raise all these issues in these proceedings is a moot question?

2. We may take note of the relevant facts in some detail in order to appreciate the controversy between the parties.

3. The petitioner is in the hotel business. One of its hotels is known as Park Royal Hotel, which is located at Nehru Place, New. Delhi. Adjacent to this hotel, the petitioner has also built International Trade Tower. It houses various commercial establishments as space is