1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 282 OF 2009 M/s. Vibronics Pvt. Ltd. ... Petitioner Vs M//s.Hoerbiger India Pvt. Ltd. ... Respondent Mr. Jaideep Mitra i/b Dr. M. Shah Alam Khan for the Petitioner. Mr. Shriram S. Kulkarni for the Respondent. CORAM : S.J. VAZIFDAR, J. DATED : 7TH JULY, 2010. P.C. : 1. This is a petition for winding up the Respondent-company, inter alia, on the ground that it is unable to pay its debts. 2. The claim of over Rs.30,00,000/- is on account of the alleged failure of the company to pay the balance price consisting of excise duty, VAT and service tax. The amounts are alleged to be payable in respect of the material supplied and the work done under five 2 purchase orders, four dated 28th February, 2007 and one dated 30th July, 2007. It is important to note that the transactions comprised, not merely of the sale and delivery of the machinery, but also the installation and successful commissioning thereof. There is no dispute that the machinery was sold and delivered. The only question is whether the same was commissioned and the quality complied with the requisite stipulation. It is not possible in this petition to determine these questions. There are serious disputes between the parties in this regard. These disputes arose much before the statutory notice was served. 3. It is also important to note that the Petitioner issued a letter dated 26th March, 2002, guaranteeing performance of the contracts on its part. As security, the Petitioner issued various cheques in the aggregate sum of Rs.42.79 lakhs. This, therefore, stood on a higher footing than even a bank guarantee or performance agreement. There was virtually a deposit of money. Only one of these cheques was honoured. The rest of the cheques were dishonoured. 4. In these circumstances, it is not possible to pass any orders in 3 the Petitioner’s favour in this Company Petition. The Petitioner must be relegated to the normal remedy of a Suit. 5. In the circumstances, the Company Petition is dismissed.