( 1 ) HEARD Shri Amit Prasad assisted by Shri Manoj Kumar Singh for the petitioner and Shri bharat Ji Agarwal assisted by Shri Piyush Agarwal for the respondent Company.

( 2 ) BY an order dated 15. 2. 2005 a counter affidavit, after overruling the objection by the counsel for the petitioner Company, was taken on record on imposition of costs, on the respondent company and the matter was directed to be listed for hearing on the admission of the petitioner, for consideration whether the Company Petition should be advertised under Rule 24 of the companies (Court) Rules, 1959.

( 3 ) THESE creditors winding up petition has been filed by M/s Melvin Powell Vanaspati and engineering Industries Ltd. , with its registered office at 8/1/b, Diamond Harbour Road, Calcutta and M/s Paharpur Cooling Towers Ltd. with its registered office at 8/1/b, Diamond Harbour road, Calcutta under Section 439 read with Section 433 and 434 of the Companies Act 1956 read with Rule 9 of the Companies (Court) Rules 1956 to wind up M/s Oswal Chemicals and fertilizers Ltd. with its registered office at Village and Post Office, Piprola, Shahjahanpur.

( 4 ) BRIEF facts leading to the filing of the Com