1. This petition has been filed by the petitioner for winding up of the respondent company on the ground of inability to pay its debts.

2. The respondent company carries on business of drug discovery research, clinical research, clinical data management, bio-equivalence studies, quality control, novel drug delivery system, pre-clinical research studies and research in bio-technology. The respondent company was incorporated on 25.7.07 with authorized share capital of Rs.2,00,00000/= (Rupees Two Crore only) divided into 20,00,000 (Twenty Lakhs) equity share of Rs.10/- (Rupees Ten only) each.

3. The petitioner company had purchased four floors, viz., 4th to 7th floor, of the premises at 149, Velachery-Tambaram Main Road, Pallikaranai, Chennai, viz., “Robert V Chandran Tower”.

4. The petitioner and the respondent entered into a lease agreement dated 15.12.08 for lease of the 5th floor of the abovesaid premises on a monthly rent of Rs.10,00,000/= (Rupees Ten Lakhs only) together with security deposit of Rs.1,00,00,000/= (Rupees One Crore only). There are other terms and conditions in the lease deed, which is annexed to the petition, which is not in dispute. It is the case o