Court grants winding up petition under Companies Act, 1956 due to unpaid dues. Official Liquidator appointed as liquidator.

The court granted the winding up petition under sections 433(e) and (f) of the Companies Act, 1956, due to the respondent-company's failure to pay outstanding dues as determined through legal proceedings and a compromise decree. The court appointed the Official Liquidator as the liquidator of the respondent-company, directing the petitioner to deposit initial winding up expenses and comply with specified timelines for winding up procedures. The decision was based on the established legal proceedings and the respondent's inability to pay the debts owed, in accordance with the Companies Act, 1956.

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Issues:
- Winding up petition under section 433(e) and (f) of the Companies Act, 1956
- Claim of petitioner for unpaid charges and dues
- Barred by limitation contention by respondent-company
- Determination of amounts payable by the respondent-company
- Appointment of Official Liquidator as liquidator

Analysis:

1. The petitioner sought winding up of the respondent-company under section 433(e) and (f) of the Companies Act, 1956, due to non-compliance with a leave and licence agreement, leading to a compromise decree in LE and C Suit No. 32/38/1992. Subsequent legal actions, including contempt proceedings and execution proceedings, were initiated by the petitioner due to non-payment of agreed charges by the respondent-company.

2. The respondent-company contended that the claim was barred by limitation and denied liability to pay any dues. However, the court admitted the petition in 2005 and permitted the petitioner to advertise for objections, which were not received. The court reviewed the compromise decree and the subsequent legal proceedings to determine the amounts payable by the respondent-company.

3. The court found that the claims made by the petitioner were within the time limit and not barred by limitation. The determination of amounts payable to the petitioner was established through various legal proceedings, including LE and C Suit No. 32/38/1992, Misc. notice No. 535/1995, and revision application No. 62/1996. The respondent-company was deemed unable to pay the debts owed to the petitioner.

4. Consequently, the court allowed the petition, appointed the Official Liquidator as the liquidator of the respondent-company, and directed the petitioner to deposit a sum for initial winding up expenses. The petitioner was also instructed to advertise the winding up order and serve a certified copy to the Registrar of Companies within specified timelines. The court's decision was based on the established legal proceedings and the respondent's failure to pay the outstanding dues.

5. In conclusion, the judgment granted the winding up petition based on the non-payment of dues by the respondent-company, as determined through legal proceedings and the compromise decree. The appointment of the Official Liquidator and the specified actions for winding up were in accordance with the Companies Act, 1956.

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