*1* cp.788.04.absolute.deposit.sxw kps I N THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.788 OF 2004 Mr.Mahesh Mistry Proprietor of M/s MD AIRCON. ..Petitioner -Versus- M/s Kirloskar Airtech Ltd.. ..Respondent .......... Mr.Rajesh More i/b C. Chavan with C.A. More for the Petitioner. None for the Respondent. .......... CORAM : S.J. VAZIFDAR, J. DATE : 16th August, 2010. P.C. 1 This is a petition for winding up the Respondent/ Company on the ground that it is unable to pay it’s debts. 2 According to the Petitioner, the Respondent is indebted to the Petitioner in the sum of Rs.1,69,768/-. The Petitioner was Respondent’s dealer for the air-conditioners manufactured by the Respondent. 3 The Petitioner claimed a sum of Rs.20,000/- towards the refundable security deposit. This deposit is evidenced from the copy of a cheque drawn in favour of the Respondent and the Petitioner’s bank statement showing that the same was encashed. 4 A sum of Rs.1,25,000/- less a sum of Rs.43,000/-, is *2* cp.788.04.absolute.deposit.sxw claimed towards the amount paid by the Petitioner to the Respondent for supply of the air-conditioners. Only two air- conditioners were supplied for which the credit of Rs.43,000/- was given. This is evidenced from the Respondent’s receipt dated 31.03.2001 of a sum of Rs.1,25,000/- and the Petitioner’s letter dated 21.01.2002. 5 A sum of Rs.54,590/- is claimed towards the sales & service commission amount. The said amount is admitted in the Respondent’s letter dated 23.11.2001. 6 The Petitioner also forwarded the invoices in connection with the publicity and advertisement under cover of his letter dated 21.02.2002 aggregating to Rs.13,178/-. By the said letter, the Petitioner demanded the payment of the said amount. There was no denial to the said fact. 7 However, considering the facts that the amount is low and no other party has appeared, I intend to afford an opportunity to the Respondent/Company of avoiding an order of winding up. 8 In the circumstances, the petition is, therefore, disposed of by the following order:- (i) In the event of the Respondent/ Company paying the Petitioner a sum of Rs.1,69,768/- together with interest thereon at the rate of 15% per annum from the date of statutory notice dated 15.03.2004 till the payment on or before 31st October, 2010, the petition shall stand dismissed. (ii) In case of failure on the part of the Respondent/ Company to pay the amount as aforesaid, the petition shall be made *3* cp.788.04.absolute.deposit.sxw absolute in terms of prayer clauses (a) and (b) without further orders. In that event, the Petitioner shall be entitled to the costs fixed at Rs.10,000/- which may be claimed in the winding up proceedings. -