JUDGMENT

A. K. PATNAIK, J. : These two petitions filed under Sec¬tions 433, 434 and 439 of the Companies Act, 1956 though heard separately on two separate dates, are being disposed of by this common order as they have a common prayer for an order to wind up new and the same company, the Orient Paper and Industries Ltd. (for short, “the Company”) and raise common questions of law.

2. The case of the petitioner in Comp. Act No.25 of 1999 is that by purchase orders dated 3.12.1997, 8.12.1997, 23.4.1998, 30.4.1998 and 3.10.1998, the Company asked the petitioner to supply Amotex (Defomer), Aronol (Wax emulsion) and Pep size-500 for its business of manufacture and sale of pulp, paper board and other articles. The purchase orders inter alia stipulated that payment will be made within 60 days/90 days sight through UCO Bank, Brajarajnagar and overdue interest payable at the rate of 16 percent per annum. In terms of the aid purchase orders, the petitioner supplied the goods to the Company but the price of the goods amounting to Rs.69,29,104/- as well as interest at the rate of 16 per cent per annum totalling to Rs.9,44,042.01 was not paid to the petitioner by the Company. By a registered no