1. The Petitioner, a Company registered in Australia, has filed this Company Petition for winding up, after securing a foreign award against the Respondent for non-payment of the consideration for supply of scrap. The Petitioner had also filed an Original Petition in O.P.No.56/2014 under Part II of the Arbitration and Conciliation Act 1996 to record satisfaction that the foreign award, dated 28.02.2013 is enforceable in India. The said original petition was allowed by this Court by order dated 26.06.2014, rejecting the objections of the Respondent. Since, the award has not been satisfied by the respondent, the Petitioner has come up with the present Company Petition for winding up of the Respondent Company.

2. The learned counsel for the Petitioner contended that the award has become final and the respondent has failed to satisfy it, despite the statutory notice. The learned counsel also contended that the objections, raised by the respondent in their reply notice, are untenable and the claim, with regard to another contract, has to be proved by initiating new and separate arbitration proceedings, which has not been done by the respondent till date and in any case, the sa