India Infoline Finance Ltd. v. Business India Publication Ltd. To Official Liquidator

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (L) NO.475 OF 2018 IN COMPANY PETITION NO.459 OF 2016 India Infoline Finance Limited ....Applicant/Petitioner Vs.

Business India Publication Limited ....Respondent ---- Dr. Birendra Saraf a/w. Mr. Vaibhav and Ms. Aarti Kulkarni I/b. Mr. Sachin V. Masurkar for applicant/petitioner.

Mr. Chirag Sancheti I/b. Thakordas Madgavkar for respondent. ---- CORAM : K.R.SHRIRAM, J.

DATE : 21st AUGUST 2018 P.C.:

This application is for restoration of the petition and extend the returnable date.

Mr. Sancheti, counsel for respondent states that they are in advanced stage of negotiation with petitioner and hope to put an end to the whole matter and the payments will be made within four weeks from today. Dr. Saraf, counsel for petitioner states that he has no instructions. Be that as it may, petition is restored to file. The returnable date is extended upto 24th September 2018. Petitioner is directed to advertise the petition by 5th September 2018 in two local newspapers, viz., 'Free Press Journal' (in English) and 'Navshakti' (in Marathi) and also in Maharashtra Government Gazette. Any delay in publication of the advertisement in the Maharashtra Government Gazette, and any resultant Gauri Gaekwad

2/2 904.CAL-475-2018.doc inadequacy of notice shall not invalidate such advertisement or notice and shall not constitute non- compliance with this direction or with the Companies (Court) Rules, 1959. Petitioner shall also deposit an amount of Rs.20,000/- with the Prothonotary and Senior Master of this Court towards publication charges by 24th August 2018 with intimation to the Company Registrar, failing which the petition shall stand dismissed for nonprosecution without further reference to the Court. After the advertisements are issued, the balance, if any, shall be refunded to petitioner. Application accordingly stands disposed.

Notwithstanding disposal of the company application, applicant to remove all office objections and get the company application numbered within two weeks from today.

Digitally signed by Gauri Amit Gaekwad Date:

2018.08.23 19:25:12 +0530 Gauri Amit Gaekwad (K.R. SHRIRAM, J.) Gauri Gaekwad