PASAYAT, J.

( 1 ) THIS is an application seeking for an order that Orissa Construction Corporation Ltd. (hereinafter referred to as the 'company') be wound up on the ground that it is insolvent and unable to pay its debts.

( 2 ) BACKGROUND facts as indicated in the application are essentially as follows : the company was incorporated on 22/05/1962 (wrongly described in the petition as ";in the month of 22/05/1962";) under the Companies Act, 1956 (in short, the 'act') as a Public (Private) Company Limited by shares. The company is indebted to the petitioner for a sum of Rs. 16, 000/- for, and interest admissible from the date of delay, till final payment. The amount is payable for professional services rendered and the details are given in Annexure-A to the petition. Petitioner asked the company for payment of his dues, by his notice of demand duly signed, which was served on the company at its registered office on 23-4-1987. But the company failed to pay the sum or any part thereof. It was accordingly stated that the company is insolvent and unable to pay its debts and therefore, should be wound up under the provisions of the Act.

( 3 ) FROM Annexure-A it appears that the petiti