1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 89 OF 2001 Noble Synthetics Limited. ... Petitioner Vs M/s. Patmo Paints & Chemicals Pvt. Ltd. ... Respondent Ms. Shikha Romiwala i/b N. Hormusjee & Co. for the Petitioner. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATED : 22ND JUNE, 2010. P.C. : 1. This is a Company Petition for winding up the company on the ground that it is unable to pay its debts. 2. The Petitioner’s claim arises on account of goods sold and delivered by it to the company on the terms and conditions contained in twelve invoices, particulars whereof are tabulated in paragraph 9 of the petition. The company not having paid the said amounts despite 2 repeated demands and despite the statutory notice, this petition was filed. 3. By an order dated 23rd March, 2001, an order was passed in terms of the Consent Terms signed by the parties, which were taken on record and marked “X”. Under the Consent Terms, the company was to pay an aggregate sum of Rs.23,61,562/- in twelve equal installments of Rs.1,96,796/- each. The company paid only the first two installments. 4. The Consent Terms themselves provide for a self-operative order of admission in the event of default. In the circumstances, by an order dated 20th September, 2001, the petition was admitted. 5. The claim is admitted. Nothing can be clearer in this regard than the facts of the parties having entered into the said Consent Terms. There are no other circumstances which pursuade me to dismiss the petition. 5. In the circumstances, the Company Petition is made absolute in 3 terms of prayers (a) and (b) which read as under :- “(a) That the abovenamed Company Patmo Paints and Chemicals Pvt. Ltd. be wound up by and under the directions of this Hon’ble Court under the provisions of the Companies Act, 1956. (b) The Official Liquidator or some other fit and proper person be appointed Liquidator of the Company with all powers under the provisions of the Companies Act, 1956.” 6. The company shall also pay the Petitioner costs fixed at Rs. 5,000/- which the Petitioner is at liberty to recover in the winding up proceedings.