1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 982 OF 2007 Wujiang City Rongtai Import & Export Co. Limited. ... Petitioner Vs Sudha Industrial Corporation Limited. ... Respondent Mr. Darshan Mehta i/b M/s. Dhruve Liladhar & Co. for the Petitioner. None for the Respondent. CORAM : S.J. VAZIFDAR, J. DATED : 22ND JUNE, 2010. P.C. : 1. This is a Company Petition for winding up the Respondent- company on the ground that it is unable to pay its debts. 2. The conduct of the company throughout the proceedings itself establishes that the petition ought to be allowed as prayed. The same establishes that there is not only no bona fide defence, but that the Petitioner’s claim is, in fact, admitted. 2 3. The claim arises in respect of the goods sold and delivered by the Petitioner to the company under and in terms of two invoices dated 16th March, 2005 and 28th April, 2006 for an aggregate sum of US $ 92,229/-. The company accepted two bills of exchange. 4. There was no reply to the statutory notice. The contention raised in the affidavit-in-reply was rejected by the learned Judge who passed the order dated 24th July, 2008, admitting the petition. I see no reason to take a different view. It was in the reply for the first time that the Respondent raised disputes about the quality of the materials supplied by the Petitioner. There is nothing on record that establishes this defence. By the said order, the company was ordered to deposit the entire amount, failing which, the Company Petition was directed to be admitted. The company failed and neglected to deposit the said amount. The company took out Company Application No.1419 of 2008 for setting aside the said order. Time was taken thereafter several times to negotiate a settlement. Ultimately, by an order dated 19th December, 2008, an order was passed in terms of the Consent Terms signed by and between the parties. Under the said Consent 3 Terms, the amounts were to be paid in two installments. Admittedly, the same have not been paid. The petition was, therefore, ordered to be advertised as per order dated 2nd December, 2009. 5. The above facts indicate that there is no bona fide defence and that the company is unable to pay its debts. In the circumstances, the petition is made absolute in terms of prayers (a) and (b) which read as under :- “(a) that Sudha Industrial Corporation Ltd., be ordered to be wound up by and under the directions of this Hon’ble Court under the provisions of the Companies Act, 1956; (b) that the Official Liquidator, High Court, Bombay be appointed as the Liquidator of the said Company with all powers under the Companies Act, 1956.” 6. The company shall also pay the Petitioner costs fixed at Rs. 5,000/-, which the Petitioner is at liberty to recover in the winding up proceedings.