1 IN THE H IGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 777 OF 2000 M/s. Time Technoplast Ltd. ... Petitioners Vs M/s. Ventron Chemicals Ltd. ... Respondent Ms. Neeta S. Jain for the Petitioners. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATED : 7TH JUNE, 2010 P.C. : 1. This is a Petition for winding up on the ground that the company is unable to pay its debts. 2. The claim arises on account of goods sold and delivered by the Petitioner to the company on the terms and conditions contained in and evidenced by several invoices, copies whereof are annexed to the Petition. The Petitioner served a statutory notice dated 25th February, 2 1999, calling upon the company to pay the said amount together with interest at the rate of 30 per cent per annum. 3. The company, by its reply dated 15th March, 1999, merely stated that it was verifying the accounts. It further stated that subject to verification, it would pay the amounts within six to eight months. 4. The Petitioner was offered inspection of the record to the Respondent. According to the Petitioner, the company is indebted to it in the sum of over Rs.40,00,000/-. There is no affidavit in reply. In fact, the company has filed an affidavit dated 8th September, 2004 stating that its activities have ceased, that there are no fresh orders and that it was not in a position to pay the dues of the Petitioner. 5. There are no other circumstances which warrant denying the reliefs claimed by the Petitioner. Pursuant to the order of admission, the procedure, including as regards advertising the Petition have been complied with. 6. In the circumstances, the Petition is made absolute in terms of 3 prayer (a) which reads as under :- “(a) M/s. VENTRON CHEMICALS LTD. (the Company) be directed to be wound up under the directions of this Hon’ble Court and that Official Liquidator be appointed Liquidator of the Company to take cha4rge of all the assets, properties and records of the Company with all powers under Section 475 of the Companies Act 1 of 1956 to be exercised under Section 458 of the said Act without sanction or intervention of this Hon’ble Court save and except in case of the sale of the immovable properties of the Company.”