( 1 ) APPELLANT, M/s. Ashok Fashions Limited, has filed this appeal against the order passed by learned Company Judge on 29. 2. 1996 in Company Petition No. 25 of 96, whereby the learned Company Judge, after admitting the Company Petition, has directed public advertisement on or before 8th March 1996 in Gujarati daily Gujarat samachar and English daily The Times of india. It is further ordered that the final date of hearing to be notified would be 30- 3-1996.

( 2 ) THE respondent herein presented a company Petition before the learned Company judge praying for winding up of the appellant-Company as in spite of statutory legal notice under the Companies Act 1956 calling upon the appellant to pay the principal sum of Rs, 1,69,290/- together with interest thereon at the agreed rate of 24% p. a. the Company has failed to honour the same. In the Company Petition, the respondent herein made the following averments on oath:-"2. The Company above-named, viz. Ashok Fashions Ltd. (hereinafter referred to as "the Company") is incorporated and registered under the Companies Act, 1956 as a Public Company limited by shares. 3. THE factory and office of the Company is situated at O