1. This petition has been filed for winding up of the Company on the ground that it is just and equitable to do so under S.433(f) of the Companies Act, 1956 . It is stated in the petition that the Company was originally incorporated as M/s. Rinku Polychem Pvt. Ltd. on 11th July, 1990 and subsequently converted into Limited Company with effect from 22nd April, 1992. The main objects for which the Company is incorporated, inter alia, consist of :
"To carry on in India and elsewhere in any place or places in the world, the business of processing, converting, producing, manufacturing, formulating, using, buying, acquiring, importing, storing, exporting, packaging, selling, distributing, transporting and otherwise, dealing in organic and in - organic chemicals of any chemicals, chemical products, alkalies, acids, tannings, essence, emulsions, solvents, chemical auxiliaries, pesticides, weedicides, insecticides, caustic soda, soda ash, carbon, hydro - carbons, petroleum, oleum, synthetic products, polymers, elastomers and resins of all types and grades and co - polymers, formulations and in all forms dyes and intermediates, paints, varnish, rubber chemicals, agro chemicals, textile auxil