1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY APPLICATION NO.808 OF 2009 IN COMPANY PETITION NO.948 OF 1997. Hindustan Thompson Associates Ltd. ..Petitioner. And Airports Authority of India. ..Applicants. vs. Skyline NEPC Limited. .. Respondent. .... Mr. S.K. Chari, i/b. M.V. Kini & Co., for Applicant. Mr.Harshal Manik, i/b. Rustamji & Ginwala, for Petitioner. Official Liquidator, present. .... CORAM : S.J.KATHAWALLA, J. DATE : 18TH SEPTEMBER 2009. P.C. The applicants have filed the suit against the company, which is in liquidation as well as M/s. Skyline NEPC Limited, before the High Court of Judicature at Madras, O.O.C.J. being C.S. No.535 of 1999, to recover an amount of Rs.1,91,61,781/- together with future interest @ 18% per annum on Rs.1,01,94,583/- from the date of filing of the suit till realisation. 2. In the said suit, applicants have in the alternative sought a decree to sell 45.97 acres of land described in the schedule to the 2 plaint, owned by M/s. NEPC India Limited, the Guarantor. The title deeds of the land are deposited by the second defendant with the applicants. 3. The learned Advocate appearing for the applicants submits that the applicants are interested in obtaining reliefs only against the Guarantor whose lands are mortgaged to the applicants. He submits that in the event of a decree being passed against the defendants, the applicants undertakes through him, to initiate execution proceedings only against the Guarantor, being aware of the fact that the Liquidator has no funds whatsoever in the account of the company in liquidation. 4. The Applicants are therefore, granted leave under section 446 of the Companies Act, 1956 to proceed with the suit being C.S. No.535 of 1999 filed before the High Court Judicature at Madras. 5. Company application accordingly stands disposed of. [ S.J.KATHAWALLA, J. ]