ISMAIL J.

This is an appeal against the order of Ramaprasada Rao J., as he then was, dated 6th October, 1977, made in Company Petition No. 96 of 1974 directing the winding up of the appellant-company under the provisions of the Companies Act, 1956, hereinafter referred to as the Act. The facts are not in controversy. The first respondent herein obtained a decree in the City Civil Court, Madras, against the appellant. herein in O. S. No. 3032 of 1966 for a sum of Rs. 17, 093.06 with further interest. The first respondent issued a notice as contemplated in s. 434(1) of the Act. The first notice was returned as "left" and to a second notice issued to the appellant, there was a reply that the original decree under Ex. P-1 was only an ex-parte decree and that efforts were being made to have the same set aside. However, at the time when the matter came to be disposed of by the learned judge, it was not in dispute that the attempt to have the ex parte decree set aside had failed and that the said decree had become final and effective. In view of this, the point that was urged before the learned judge was that since the first respondent had obtained a decree, it had to proceed u