1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 11 OF 2010 M/s. U.P.State Bridge Corporation Limited. ... Petitioner Vs M/s. Maharashtra State Road Development Corporation Limited. ... Respondent Ms. Shilpa Kapil for the Petitioner. Mr. Prashant Chawan with Mr. F. Lakdawala and Ms. M. Bootwala i/b M/s. Little & Co. for the Respondents. CORAM : S.J. VAZIFDAR, J. DATED : 13TH JULY, 2010. P.C. : 1. This is a petition for winding up the Respondent-company, inter alia, on the ground that it is unable to pay its debts. 2. It is unfortunate that both the parties, which are Government undertakings, have not taken recourse to settling the dispute through the High Power Committee. 2 3. In any event, a winding up petition, in the facts and circumstances of this case, is not the appropriate remedy. The total contract value with escalation was about Rs.9,00,00,000/-. The entire amount has been paid except the amount mentioned in the present petition i.e. about Rs.35,00,000/-. 4. The sum of Rs.35,00,000/- includes the retention money of about Rs.19,00,000/- and about Rs.16,00,000/- as the balance under the final bill. Prior to the defect liability period getting over, the Respondent had called upon the Petitioner to rectify certain defects. The entire project consists of building a fly-over. It is impossible in the present proceedings to state with any degree of certainty that the non-payment of a sum of Rs.35,00,000/- out of a total of more than Rs.9,00,00,000/- indicates any inability to pay the debts. It is also impossible to state with any degree of certainly that the amounts are due and payable and that there were no defects. 5. In the circumstances, the Company Petition is dismissed.