( 1 ) SRI Ram Govind Misra, claiming himself to be a contributory of the compay, known as allahabad Theatres Pvt. Ltd. , has filed this petition praying for the winding up of the company. The petitioner claims that the company has suspended its business and has become commercially insolvent. Neither has the company held its annual general meetings, nor has it filed its annual returns with the Registrar of Companies. Consequently, it is expedient and in the interest of justice that it should be wound up.

( 2 ) THE petition was admitted on September 30, 1983. The court directed that the notice should be issued to the company and other persons arrayed as respondents in the case. On January 9, 1984, one Shri Bhagwan Das Jaiswal, claiming to be a director of the company, filed a counter-affidavit questioning the right of the petitioner to file the winding up petition and asserting that the petition is mala fide and has been filed for ulterior reasons. He also controverted the other allegations made in the petition. Subsequently on November 10, 1984, an application (Paper No. A-12) was filed on behalf of the company wherein it was prayed that the order admitting the petiti