- 1 - VPH IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION No. 770 OF 2009 WITH COMPANY PETITION No. 487 OF 2007 Asha Suresh Varma ... Applicant Vs. Vaishnavi Rasayan Pvt. Ltd. ... Respondents *** Mr. V. J. Shah a/w C. N. Mehta, for the Applicant. Mr. Piyush Shah, for respondent. *** CORAM : S. J. KATHAWALLA, J. DATE : SEPTEMBER 8, 2009. PC :- 1. The above Company Petition was admitted by an order of this Court dated 7th December 2007. The appeal preferred therefrom was dismissed by the Hon’ble Division Bench vide order dated 8th July 2008. The petition was thereafter advertised in “Free Press Journal” and “Navshakti” on 7th August 2008 and in the Maharashtra Government Gazette on 28th August 2008. From the order of admission dated 7th December 2008 it is noted that the petition was made returnable on 7th March 2009. Thereafter the applicant has taken out the present application for appointment of a - 2 - provisional liquidator on the ground that the Company has stopped all its operations since the last one year and the machinery lying in the factory premises of the respondent Company is getting rusted. It is contended that the Company is already indebted to MSFC to the tune of Rs.4 Crores. 2. On the last occasion it was suggested by this Court to the advocates appearing for the parties that instead of hearing the application for an appointment of provisional liquidator, the learned advocates may proceed with the hearing and final disposal of the Company Petition which suggestion was accepted by the learned advocates who have today proceeded with the hearing and final disposal of the Company Petition. 3. I have heard the learned counsel appearing for the parties. The petition was admitted by this Court by its detailed order dated 7th December 2007. In the said order this Court has categorically held that this Court is convinced that there is enough material to assume that the respondent is unable to pay its debts. No reply is filed to oppose the winding up of the respondent Company after the petition was admitted on 7th December 2007. No defense has come forth, even today when the petition is being heard finally. In view thereof for the very same reasons, set out in the order of this Court dated 7th December 2007, the Company Petition is made absolute in terms of prayer Clause (a) and (b). 4. The learned advocate appearing on behalf of - 3 - respondent requests the Court to stay the order for a period of four weeks on the ground that the respondent Company is trying to procure some funds shortly, which will enable the respondent Company to satisfy all the dues of their creditors. This order is therefore, stayed for a period of four weeks i.e. upto 6th October 2009, after which the Official Liquidator shall take appropriate steps in the matter. 5. In view of disposal of the Company Petition, Company Application No. 770 of 2009 also stands disposed of. Sd/- [ S. J. KATHAWALLA, J.]