:1: IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 167 OF 2008 COMPANY PETITION NO. 167 OF 2008 COMPANY PETITION NO. 167 OF 2008 Indo Rama Synthetics (India) Limited ..Petitioner versus M/s. Gupta Synthetics Limited ..Respondent Mr. Nikhil Mehta i/b. KMC Legal Venture for the Petitioner. Ms. Soumya Srikrishna i/b. Little & Co. for the Respondent. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. DATE : 14TH AUGUST, 2008. DATE : 14TH AUGUST, 2008. DATE : 14TH AUGUST, 2008. P.C. P.C. P.C. . . . Heard. 2. This is a Petition for winding up under Sections 433 and 434 of the Companies Act. According to the petitioners, the respondents Company is indebted to the petitioner in the sum of Rs.25,35,074.90 paise on account of unpaid price of goods sold and supplied. The statement of principal amounts due on the outstanding invoices according to the petitioner is as follows:- Sr. Date Invoice Principal Amount Balance Sr. Date Invoice Principal Amount Balance Sr. Date Invoice Principal Amount Balance No. Nos. amount due paid amount No. Nos. amount due paid amount No. Nos. amount due paid amount due and due and due and payable. payable. payable. 1. 24.07.07 9011716724 9,82,572.90 6,04,478.90 3,78,094.00 2. 27.07.07 9011717239 9,82,572.00 Nil 9,82,572.00 3. 23.02.07 9011638461 48,681.00 Nil 48,681.00 4. 23.02.07 9011638460 4,86,612.00 2,43,859.86 2,90,867.00 5. 28.07.07 9011717301 34,637.00 29,448.00 5,189.00 ------------ ------------ ------------ Total 25,35,074.90 8,77,786.76 17,05,403.00 :2: ------------ ------------ ------------ Learned counsel for the respondent states that the amounts at Item Nos. 1 and 2 above have been paid to the petitioner. The learned counsel for the respondent disputes the payment, but according to the petitioner, the dispute is whether the amounts have been credited to the invoices mentioned or to some other invoices, she however maintains the said payment has been made. 3. As regards Item Nos. 3 and 4, the respondent company admits liability to the extent of Rs.7,22,537/-. 4. As regards Item No. 5 the liability is denied completely. 5. In the circumstances, it would be appropriate in the interest of justice to direct the respondent company to deposit a sum of Rs.7,22,537/- in this court within a period of six weeks from today. On such deposit the petitioner shall be entitled to withdraw the said amount. As far as rest of the claim is concerned, the petitioner shall be entitled to file a suit as may be advised in accordance with law for recovery of the said amount. 6. If the amount is not deposited by the respondent company as stipulated above, the Company Petition shall stand admitted :3: and the petitioner shall advertise the petition in two local newspapers, viz., "Free Press Journal", "Maharashtra Times" and in the Maharashtra Government Gazette. The petitioner shall deposit an amount of Rs.10,000/- with the Prothonotary and Senior Master towards the publication charges within three weeks from the date of default with an intimation to the Company Registrar, failing which the petition shall stand dismissed for non-prosecution. (S. A. BOBDE, J.) (S. A. BOBDE, J.) (S. A. BOBDE, J.)