1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN INSOLVENCY PETITION NO.204 OF 2004 Re: Hasan Kasam Shah & anr. ..Debtors. Ex parte : Kantilal Otarmal ..Petitioning Creditor. ... Mr. K.P. Jain for the Petitioning Creditor. Debtor absent though served. ... CORAM: DR. D.Y. CHANDRACHUD, J. 19th August, 2006. P.C. : The Insolvency Petition is based on a decree passed by this Court in Summary Suit 320 of 2002 in the sum of Rs.2,82,902.72 with interest at the rate of 18% per annum on the principal sum of Rs.1,75,000/- from 10th July, 2004 till payment. An Insolvency Notice was issued on 21st August, 2004 which was duly served on the Debtors. The Debtors took out a Motion (Notice of Motion 205 of 2004) for setting aside the insolvency notice which was dismissed on 7th December, 2004. The act of insolvency was therefore complete on 7th December, 2004. The Insolvency 2 Petition has been duly served and an affidavit of service has been filed. There is no reply to the Petition and the Debtors have failed to appear. In the circumstances, the Insolvency Petition has to be allowed and is accordingly allowed in terms of prayer clauses (a) and (b ).