ORDER :- This is a petition under Section 433 of the Indian Companies Act, 1 of 1956 (hereinafter referred to as the Act), filed by the Aluminium Corporation of India Ltd. (hereinafter referred to as the Corporation), for winding up the Lakshmi Ratan Cotton Mills Co., Ltd. (hereinafter referred to as the Company) in the circumstances detailed below.

2. The Company is one of the Industrial and business concerns controlled by the Guptas of Kanpur. The Corporation is controlled by another prominent group of industrial magnates of Kanpur, the Singhanias. It appears that the Gupta and the Singhania groups were at one time jointly running the company as well as the Corporation. They were also jointly controlling a firm known as Firm Behari Lal Ram Chand (referred to here-inafter as the firm) so much so that the accounts of these three concerns were mixed and open to each other as though the three concerns were one. But, subsequently, as a result of differences between the two groups, they decided to part company. Their interests were separated under an award. The Corporation came to the share of the Singhanias exclusively. The Company and the Firm fell in the share of the Guptas. Account

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