IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Company Petition No.776 of 2007 connected with Company Application No.370 of 2007 In the matter of Scheme of arrangement and compromise between Vipras Corporation Ltd. and the Secured Creditors Vipras Corporation Ltd. ..Petitioner Ms.Boski Sharma i/b M/s Paras Kuhad Associate for petitioner Mr.Devanshi P.Derai i/b M/s Medekar and Co. for Official Liquidator. Mr.C.J.Joy i/b Mr.S.K.Mohopatra for R.D. CORAM: S.C.DHARMADHIKARI CORAM: S.C.DHARMADHIKARI CORAM: S.C.DHARMADHIKARI J. J. J. 27th June 2008 27th June 2008 27th June 2008 P.C. P.C. P.C. 1. In the light of the settled legal position with regard to maintainability of the proceedings seeking sanction to the scheme under sections 391 and 394 of the Companies Act, when the company concerned is before BIFR and covered by Sick Industrial Companies Act, 1985, the petitioner cannot get any relief from this Court. The scheme cannot be presented and all revival efforts must be undertaken by BIFR/AIFR if otherwise permissible. In such circumstances, the petition is dismissed. No order as to costs. 2. The Company application does not survive in the light of dismissal of the petition. All interlocutory applications also stand disposed of accordingly. (S.C.DHARMADHIKARI J.) (S.C.DHARMADHIKARI J.) (S.C.DHARMADHIKARI J.)