P. V. B. RAO, J.

( 1 ) THIS is an application by 14 petitioners under Sections 162 and 166, Companies act, for compulsory winding up of the Joyoti Pictures Ltd. , with its Head Office at berhampur.

( 2 ) IT is alleged in the petition that petitioners 1 to 14 are contributories, and petitioner 6 and some others are creditors of the Joyoti Pictures Ltd. , that the company is a private Limited Company registered under the Indian Companies act, 1918 in 1942; that the Company has a Board of 3 Directors; that the registered office of the Company is at Berhampur in Ganjam District; that the authorised capital of the Company originally stood at Rs. 20,000/- but later on increased to Rs. 50,000/-divided into 250 shares of Rs. 200/-each; that the entire share capital is fully paid up and the petitioners 1 to 14 are consequently fully paid-up share-holders; that the objects of the Company are to exhibit cinema shows, carry on business in all kinds of language cinema films etc. , that the number of share-holders is 27 including the petitioners; that when the Company was originally started in 1942 by one K. Tarini Rao and two of his nominees, M. Arjunam and V. Ganapati, who subscribed to the