1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.115 OF 2006 Surendra Ugamraj Sanchetti .. Petitioners Vs. Milton Silk Mills Pvt.Ltd. ... Respondents Mr.Saurabh Kulkarni i/b M/s.C.R.Naidu and Co. for the petitioners None for respondents CORAM : S.J. VAZIFDAR, J. DATED : 27th 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 petitioners had granted a short term loan of Rs.50,000/- repayable with interest @ 12% p.a. as evidenced by resolution of the respondents board of directors dated 21.09.04. 3. The respondents having failed to repay the amount, Statutory Notice was addressed. There is no reply to the statutory notice. There was 2 no reply to the petition. The respondents were absent when the petition was admitted on 15.06.2006. Respondents are absent today. However, as no creditor has appeared in support of this petition and that the petitioners claim is not very much, I intend granting the ’ respondents an opportunity of paying the petitioners dues. In these circumstances, the Company Petition is disposed off by way of the following order: (i) In the event of the respondent company paying the petitioners a sum of Rs.50,000/- with interest thereon @ 12% p.a. from 21.09.2004 till payment on or before 31.09.04, the Company Petition shall stand dismissed. (ii) In case of failure on the part of the Company to pay the amount as aforesaid, the Petition, petition to stand absolute in terms of prayer clause (a) and (b) without further orders. The petitioners shall be entitled to costs fixed at Rs.5,000/- which may be recovered in the winding up proceedings.