1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN INSOLVENCY INSOLVENCY PEITION NO.186 OF 2004 The Greater Bombay Co-operative Bank Ltd. . ...Petitioning Creditor Versus Rameshkumar Kalia & Ors. ...Debtors. ....... Mrs. Vidhita S. Bhalekar i/b. Mr. Sameer R. Bhalekar for the Petitioning Creditor. ...... CORAM : DR. D.Y. CHANDRACHUD, J. October 17, 2006. P.C.: The Insolvency Petition is based on an order dated 15th July 2002 passed by the Assistant Registrar, Co-operative Societies, on an application under Section 101 of the Maharashtra Co-operative Societies' Act, 1960. In the petition it has been stated that an amount of Rs. 1,01,90,442/- was due and payable together with future interest on the principal sum of Rs.59,89,390/- from 1st February 2004. An Insolvency Notice was issued on 7th July 2004. The Debtors were served on 3rd August 2004. The act of insolvency was complete on 8th September 2004. A notice of the 2 Insolvency Petition has been published on 10th October 2006. The insolvent has failed to appear. An order of adjudication would accordingly have to be passed. The Insolvency Petition is made absolute in terms of prayer clauses (a) and (b). The Petitioning Creditor shall pay the necessary cost and expenses to the Insolvency Registrar for publishing the notice of insolvency. .....