JUDGMENT :

Jayant Patel, J.

The present petition has been preferred by the petitioner seeking winding up of the respondent company by invoking the contention as mentioned under Section 33B of the National Housing Bank Act, 1987 (hereinafter referred to as 'the Act').

2. Heard Mr. Chhatrapati, learned Counsel for the petitioner and Mr. Soparkar, learned Counsel for the respondent.

3. It appears from the pleadings on record that the respondent company was initially a housing finance company as per its objects and it also appears that as per the petitioner, since the registration was not obtained and the respondent company continued to accepts the deposits as housing finance company and functioned in breach of the provisions of the Act, it has preferred the present application for winding up of the respondent company.

4. It also appears from the affidavit in reply filed on behalf of the respondent company read with the affidavit filed by Regional Manager of the petitioning company that the respondent company has substituted the objects clause vide meeting dated 17.11.2007 and as a result thereof it has ceased to be the housing finance company. The affidavit of the Manager of the petitioner