:1: IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN INSOLVENCY IN INSOLVENCY IN INSOLVENCY PETITION NO. 67 OF 2007 PETITION NO. 67 OF 2007 PETITION NO. 67 OF 2007 Re: M/s. Velar Silk Mills & Ors. ..Debtors Ex-parte : Ex-parte : Ex-parte : M/s. D. Maneklal & Co. ..Petitioning Creditors Mr. M. C. Parekh i/b. M/s. Mansukhlal Hiralal & Co. for the Petitioning Creditors. None for the Debtors. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. DATE : 5TH AUGUST, 2008. DATE : 5TH AUGUST, 2008. DATE : 5TH AUGUST, 2008. P.C. P.C. P.C. . Heard learned counsel for the Petitioning Creditors. None appears for the Debtors. 2. Learned Counsel for the Petitioning Creditors presses for order of adjudication in respect of Judgment Debtor Nos. 3 and 4 who have been served and in respect of whom an Affidavit of Service has been filed. 2. Insolvency notice No. N/16 of 2007 dated 30.1.2007 is served on the Judgment Debtor Nos. 3 :2: and 4 on 9.2.2007 in pursuance of an Exparte Decree dated 15.6.2006 in High Court Suit No. 459 of 1986. The said Debtors took out the Notice of Motion No. 36 of 2007 which was dismissed in default on 4.9.2007. 3. Another Notice of Motion No. 1094 of 2007 for setting aside exparte decree was dismissed with liberty to take out appropriate proceedings. According to the Petitioning Creditors no such proceedings have been taken out and served on them. Nor is there any stay of execution of the decree. 4. The Petitioning Creditors state that the sum of Rs.6,44,010.27 paise with interest on the principal sum of Rs.1,14,882/- at the rate of 21% per annum from 15.12.2006 due under Insolvency Notice No. N/16 of 2007 is outstanding. 5. Though served the Debtors have not appeared nor filed any reply. Hence, the said Debtor Nos. 3 and 4 are hereby adjudicated insolvent. Petition is allowed in terms of prayer clause (a). 6. Learned counsel for the petitioning creditors seeks leave to withdraw the petition :3: against Debtor Nos. 1, 2, 5 and 6 with liberty to file fresh proceedings. Allowed to withdraw, with liberty as above. 7. Petition is disposed of accordingly. (S. A. BOBDE, J.) (S. A. BOBDE, J.) (S. A. BOBDE, J.)