3 It is petitioner's case that the four invoices, copies whereof are at Exhibit B,C,D and E to the petition, totaling to Rs.8,86,520/-, have not been paid by the company despite acknowledging its debt and admitting its liability and therefore, the company is unable to pay its debts and requires to be wound up. Petitioner relies heavily on a communication dated 3rd September 2012 addressed by one Saatchi and Saatchi Focus (a division of Saatchi and Saatchi Private Limited) to which is annexed a statement of outstanding, wherein it is recorded that the Yash Birla Group, to which the company belongs to, owes about Rs.48,44,074/- which includes Rs.8,86,520/- and the Yash Birla Group has agreed to settle petitioner's claim by paying a sum of Rs.30 lakhs in full and final settlement. Mr. Rebello, counsel for petitioner states that as no payments came forth, statutory notice dated 26th June 2013, copy whereof is at Exhibit H to the petition, was served upon the company to which there is no reply. Mr. Rebello states that it is settled law that where no response to a statutory notice has been made, the Court may pass a winding up order on the basis that amount claimed has not been denied by the company and there is a presumption of inability to pay by the company. Where no response has
