R.M. Chhaya, J.

1. Heard Mr. S.A. Desai, learned counsel for the petitioner and Mr. Harshit Tolia, learned counsel for the respondent.

2. By this petition under Sections 433, 434 and 439 of the Companies Act, 1956 (hereinafter referred to as "the Act"), the petitioner has prayed for winding up of the respondent Company, viz., Shaligram Laminates Pvt. Ltd. and for other consequential prayers.

3. It is the case of the petitioner that the respondent Company placed orders for kraft paper with the petitioner Company in the month of March 2008 and on the basis of such order, the petitioner Company had supplied 23 tons (approx.) of paper through different challans and invoices at different rates aggregating to Rs. 13,40,890/-. It is specifically the case of the petitioner Company that the respondent Company paid an amount of Rs. 12,55,534/-, however did not pay the remaining amount of Rs. 85,356/-. It is further the case of the petitioner Company that again the respondent Company placed a further order of 100 tons of kraft paper by mail dated 11.06.2008 for which a bill of Rs. 26 lakhs plus sales tax as applicable ex Kolkata was raised by the petitioner Company. It is further the c