1. - Swedfund International so (hereinafter as Swedfund), Post Box 3286, 103 65 Stockholm Sweden, had filed this petition under section 433(c), (e) and (f) of the Companies Act, 1956, with the prayer that M/ s Aditya Gustavsberg Limited be directed to be wound up and the official liquidator attached to this court be appointed as liquidator.

2. The claim of the petitioner company is based on the ground that a sum of Rs. 35,25,000 is payable which the respondent company failed to pay the same inspite of the demand having been made to it. It is stated that the respondent company Aditya Gustavsberg Limited (hereinafter referred to as Aditya) was a company incorporated initially under the name Aditya Sanitary Ware Ltd. (hereinafter referred to as Gustavsberg) under the provisions of the Indian Companies Act, 1956. The said company entered into a technical knowhow and licence agreement with AB Gustavs- berg another company incorporated under the laws of Sweden. Both the companies agreed to change the name of the respondent company to Aditya Gustavsberg Ltd. The capital of the said company was Rs. 10,00,000 which was increased to Rs. 6,00,00,000 for equity shares of Rs. 10 each. T