Theory:

Owlie is a story set in the house of a girl called "Payal" and her mother.
 
Payal and her mother were kind people and always welcomed abandoned birds and animals looking for a shelter. Once the bird/animal got better/mature, they were free to leave the house. Owlie is a tiny owlet that had reached Payal's house. Owlie's advent had been memorable because they had not had owls as pets before and they had to buy meat to feed her - they were vegetarians, and it was the first time they had ordered meat.
 
Payal's mom decided to become the mother of the owl and fed her with meat. But Owlie pretended to be dead and scared Payal and her mother. Slowly Owlie realized they were not dangerous and got friendly with them. Owlie was moved to the library room, and she was allowed to fly free so that she can learn to fly. One day Owlie was missing in the library which made Payal and her mom think Owlie had flown away. The disappointed duo later finds out that Owlie was right there on the bookshelf, pretending to be a curio, and this was also one of the pranks played by Owlie.