1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.369 OF 2002 Wellknown Shares & Securities Pvt. Ltd. ....Petitioner V/s. Lyric Investment & Trading Pvt. Ltd. ....Respondent Ms.Divya Sanghavi for the Petitioner. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 29TH JUNE, 2010. P.C. :- 1. This is a Petition for winding up the Respondent Company on the ground that it is unable to pay its debts. According to the Petitioner, the company is indebted to it in the sum of Rs.17,362/- together with interest on principal sum of Rs.15,000/- at 15% p.a. 2. The company appointed the petitioner as a consultant at a fixed fees of Rs.15,000/- payable upon the completion of the assignment. Upon completion of the assignment, the petitioner raised the bill to the tune of Rs.15,000/- and demanded the payment thereof repeatedly. Ultimately, the company by a letter dated 14.8.2001, expressed its inability to pay the amounts due to the financial constraint and promised to pay the same shortly. Thereafter despite the demands including a demand contained in the statutory notice, the company failed and neglected to make payment. Interest was claimed in the statutory notice dated 8.3.2002 at 18% p.a. 2 3. There was no reply to the statutory notice. There is no affidavit in reply. The company was absent when the petition was admitted on 22.11.2002. The company is absent today. The claim is admitted. 4. However, considering the fact that the claim is small and that there are no other creditors supporting the winding up of the company, the following order is passed :- i). In the event of the company paying an amount of Rs.17,362/- together with interest at 18% p.a. from 8.3.2002 till payment on or before 31.8.2010, the petition shall stands dismissed. ii). In the event of the company failing to pay the aforesaid amount, the company petition is made absolute in terms of prayers (a) and (b). The Respondent company shall also pay the costs of this petition fixed at Rs.5000/-, which the Petitioner shall be entitled to recover in the winding up proceedings.