D. S. Tewatia, J.

1. Messrs Innosearch Ltd. , 2e/25, Jhandewalan Extension, New Delhi, petitioned this court under section 439 read with sections 433 and 434 of the Companies Act, 1956 , hereinafter referred to as "the Act", for winding-up Messrs Stephen Chemical Limited, Flat No.119-120, sector 17-B, Chandigarh, with the allegations that the former company supplied goods worth Rs.48,308 to the latter company against order No.572/211, dated December 18, 1979, under the petitioning companys bill No. B/a-III/5, dated December 25, 1979 ; that despite reminders, the said company did not clear the bill; that on November 18, 1981, the petitioning company issued demand under section 434 of the Act, requiring the other company to pay Rs.50,842.05, together with a sum of Rs.200 towards the costs of notices within the specified period; and that in spite of the said notices, the other said company failed to make payment.

2. Messrs Stephen Chemical Ltd. before the company judge admitted its liability regarding the price of the goods in question and paid up the principal amount. It, however, disputed its liability regarding the payment of interest on the said amount. The learned judge,