1. This is an appeal by the Malabar Iron and Steel Works Limited against the order in Company Petition No. 8 of 1962 allowing that petition and directing the winding up of the company. That petition was filed by the 1st respondent before us, the Registrar of Companies, Kerala, Ernakulam.

2. S.433 of the Companies Act, 1956, deals with the circumstances in which a company may be wound up by court. Circumstance (c) in that section is:

"If the company does not commence its business within a year from its incorporation, or suspends its business for a whole year." The circumstance invoked by the Registrar in this case is the fact that the company has not commenced its business within a year from its incorporation on the 28th November 1960.

3. To present a petition on the ground above-mentioned the Registrar should obtain the previous sanction of the Central Government. This is provided by the second proviso to sub-section (5) of S.439 of the Act.

4. The order granting the sanction formed an annexture to the petition. That order, issued by the Regional Director and dated the 31st March 1962, reads as follows: "Whereas the Registrar of Companies, Kerala, Ernakulam has reported tha