1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.770 OF 2003 G.J. Galatine Products Ltd. ....Petitioner V/s. ASOJ Soft Caps. Pvt. Ltd. ....Respondent Mr.V.K. Sharma for the Petitioner. Mr.M.S. Kumthekar for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 2ND JULY, 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 Respondent company is indebted to it in the sum of Rs.4,16,624/- together with interest thereon at 18% p.a. 2. The claim arises on account of the goods sold and delivered by the Petitioner to the Respondent company in the terms and conditions contained in the invoices. The invoices however, do not contain any provision for interest. There was no reply to the statutory notice dated 25.11.2002. The interest is demanded at 18% p.a. in the statutory notice. There is no affidavit in reply. The company was absent when the petition was admitted on 16.12.2004. 3. It is now stated on behalf of the Respondent company that the Respondent wishes to settle the matter. In view thereof and in view of the 2 fact that there are no other creditors who have supported the admission of this petition, the company petition is disposed of by the following order :- i). In the event of the company paying an amount of Rs.4,16,624/- together with interest thereon at 15% p.a. from 25.11.2002 till payment and/or realization and costs fixed at Rs.10,000/-, on or before 30.9.2010, the company shall advertise the proposed withdrawal of the petition in the usual manner. The advertisement shall be as settled by the Company Registrar. ii). However, in the event of the Respondent company failing to make the said payment, the petition is made absolute in terms of prayers (a) and (b). The costs fixed at Rs.10,000/- which the Petitioner shall be entitled to claim in the winding up proceedings.