P. SATHASIVAM, J.

( 1 ) PETITIONING creditor has filed the above Company Petition under section 433 (e) and (f) read with Sections 434 and 439 (1) (b) of the Companies Act, 1956 to wind up the respondent company.

( 2 ) THE case of the petitioner is briefly stated hereunder: The respondent is Solidaire India Limited, a company having an authorised share capital of Rs. 10 Crores consisting of 1 Crore equity shares of Rs. 10 each The issued, subscribed and paid-up capital of the respondent is Rs. 654. 26 Lakhs. The objects of the respondent company are to manufacture and sale of black and white and colour television Sets, manufacture of Sub-assemblies and electronic tuners, and marketing audio and video products, etc. The respondent appointed the petitioner by its letter dated 11-4-1994 as its exclusive advertising agency, pursuant to the said letter of appointment, the petitioner provided advertising services to the respondent including advertising in Newspapers, Television, radio, Creative Art Work, Film Production, market Research and Conference, etc. to the satisfaction of the respondent. In respect of advertising services rendered to the respondent between October, 1994