1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.249 OF 2001 Smt.Usha Suresh Sanghavi & Ors. ....Petitioners V/s. Goldmould & Jewellery Pvt. Ltd. ....Respondent Mr.M.A. Shah i/b Mr.A.G. Shah for the Petitioners. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 21ST JUNE, 2010. P.C. :- 1. This is a Petition for winding up of the Respondent Company on the ground that the company is unable to pay its debts. 2. The company executed four promissory notes. Two promissory notes dated 14.10.1996 and 28.7.1999 are in favour of Petitioner No.1 and/or Petitioner No.2 in the sums of Rs.3,00,000/- and Rs.80,000/- respectively. The rate of interest is stipulated at 1.25% per month. The company executed a promissory note dated 4.10.1999 in favour of Petitioner Nos.1 and 3 in the sum of Rs.40,000/-. The rate of interest is also stipulated at 1.70% per month. The company also executed a promissory note dated 4.10.1999 in favour of Petitioner Nos.1 and 4 in the sum of Rs.45,000/-. The rate of interest is also stipulated at 1.70% per month. 3. The company is absent. The Company Petition was admitted 2 vide an order dated 2.8.2001. It is clear from the order that the company remained absent despite several opportunities. There is nothing to indicate any change in the attitude/conduct of the company in this regard. 4. There is no dispute much less a bona-fide dispute regarding the Petitioner’s claim. No affidavit in reply has been filed. The reply to the statutory notice has denied only a part of the claim. I am not inclined to accept this denial. In any event, a sum of almost Rs.2,40,000/- towards the principal is admitted even in the reply to the statutory notice. Together with interest, the amount today would be over Rs.10,00,000/-. Admitted amount would itself exceed Rs.6,00,000/-. There are no other circumstances, which warrants the dismissal of this Petition. 5. In the circumstances, the Company Petition is made absolute in terms of prayers (a) and (b). The supporting creditors shall also file their claims before the Official Liquidator. The Petitioner shall be entitled to claim the costs of this Petition fixed at Rs.10,000/- as also the costs of the advertisement in the winding up proceedings.