1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY INSOLVENCY NOTICE OF MOTION NO. 76 OF 2009 IN INSOLVENCY PETITION NO. 12 OF 2007 Re : Marco Engineers & Ors. ... Insolvent. Ex-Parte : M/s. Advance Paints Ltd. .. Petitioning Creditors .... Mr. Anil P. Bagve for the Insolvent. Mr. Y.C. Parikh Official Assignee. None for the Petitioning Creditors. .... CORAM : S.J. KATHAWALLA, J. DATE : JANUARY 5, 2010. P.C. This notice of motion is taken out by the Insolvent for annulment of the order of Insolvency passed by this Court dated 4th December, 2007 on the ground of full payment. The Official 2 Assignee informs this Court that full payment is made by the Insolvent. 2. It is pointed out by the Insolvent in paragraph 4 of his affidavit in support of the Notice of Motion, that an amount of Rs. 7,88,527.06 is due and payable by the Insolvent to the Central Bank of India, Mankhurd Branch (secured creditor) under the cash credit facility account. The learned Advocate appearing for the insolvent states as against the balance outstanding payable to the Central Bank of India by the Insolvent, the insolvent has mortgaged his residential flat No.2, Jigna Apartment, Deonar, Mumbai which is worth more than Rs.30,00,000/-(Rs. Thirty Lacs only). It is further pointed out on behalf of the Insolvent that a copy of the present motion is served on the Central Bank of India, Mankurd Branch on 17th December, 2009 and an affidavit of service to this effect dated 30th December, 2009 has been filed. The Bank has not come forward to oppose the present notice of motion. 3. In view of the aforestated facts, the notice of motion is made absolute in terms of prayer clauses (a) and (b). 3 4. The Notice of Motion is, accordingly, disposed of. [ S.J.KATHAWALLA, J. ]