1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.72 OF 2008 M/s.Pharma Tone Pvt.Ltd. .. Petitioners Vs. M/s.Mayo Remedies Ltd. ... Respondents Mr.Deven A.Dhruve i/b Mr.Devang H. Shah for the petitioners None for the respondents CORAM : S.J. VAZIFDAR, J. DATED : 27th 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. The claim arises under the agreement dt.29.06.2004 entered into between the parties. Under the said agreement, the petitioner was appointed as the Consignee Agent of the respondents in respect of the products manufactured and marketed by the respondents on an exclusive basis in the States of Maharashtra, Madhya Pradesh, Chattisgarh, Gujarat, Rajasthan and Goa. 2 3. Under clause 13 of the agreement, the petitioners were to deposit a sum of Rs.10 lakhs towards security deposit. The petitioners were to receive interest thereon @ 12% p.a. The agreement came to an end by efflux of time, on 31.3.07. The respondents having failed to refund the security deposit, the petitioners addressed a statutory notice dt. 21.06.2007. There was no reply to the statutory notice. There is no reply to the petition. The respondent company was absent when the petition was admitted on 19.03.08. The respondent is absent today. There is no bonafide dispute. 4. In these circumstances, the Company Petition is made absolute in terms of prayer clause (a) and (b). The petitioners shall be entitled to costs fixed at Rs.10,000/- which may be recovered in the winding up proceedings.