1. - The Registrar of Companies, Rajasthan, Jaipur, has filed this petition under Section 439(5) read with Section 433(c) and (f) of the Companies Act, 1956, against the Jaipur Stock Exchange Ltd., which is a company incorporated under the Companies Act (hereinafter referred to as "the company"). Through this petition, the Registrar of Companies has prayed that the company be ordered to be wound up by this court on the various grounds mentioned in paras 8 to 14 of the petition read with Section 433(c) and (f) of the Act. After presentation of the petition, this court issued a show-cause notice to the company as to why the petition should not be admitted and published. After the service of the petition, Shri U.N. Bhandari appeared on behalf of the company and filed a reply to the petition. The reply is signed by Shri R.C. Goenka, director of the company. In the reply, the company prayed that the winding-up petition be summarily dismissed.

2. Shri M.R. Calla has filed a petition on behalf of S/Shri P.N. Malpani, A.K. Baweja, Subash Kasliwal, Shyam Sundar Mundra and Raman Ram Niwas, said to be the directors of the company, contending that the petition be served upon the said d