Winding up grounds established where notices were ignored, no business operated at the registered address, and finances were negligible.

The company was found liable to be wound up because the record showed non-compliance with statutory notices, non-appearance, and the Official Liquidator's report that no business was operating at the registered address. The Court also relied on financial material indicating an unimproved financial position, no fixed assets, and negligible net current assets. On that basis, the statutory grounds for winding up under sections 433(b), 433(c) and 433(f) of the Companies Act, 1956 were treated as established.

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Issues: Whether the respondent-company was liable to be wound up under sections 433(b), 433(c) and 433(f) of the Companies Act, 1956.

Analysis: The petition was supported by material showing investigation by the Central Bureau of Investigation, publication of statutory notices and advertisements, non-appearance of the company, and a report of the Official Liquidator indicating that no company was functioning at the registered address. The financial material placed on record showed an unimproved financial position, absence of fixed assets, and negligible net current assets. On these facts, the Court found that the statutory grounds for winding up were made out.

Conclusion: The respondent-company was held liable to be wound up under sections 433(b), 433(c) and 433(f) of the Companies Act, 1956.

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