1 IN IN IN THE HIGH COURT OF JUDICATURE OF BOMBAY THE HIGH COURT OF JUDICATURE OF BOMBAY THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.1513 OF 2008 IN COMPANY APPLICATION NO.830 OF 2008 IN COMPANY PETITION NO.895 OF 1998 Rasiklal S. Mardia, Ex-Chairman, Amar Dye Chem Ltd.(In Liqn) ..Applicant. V/s. The Official Liquidator or Amar Dye Chem Ltd.(In Liqn.) ..Respondent. Mr.Devanshu Desai for applicant. Mr.B.B.Parekh for intervenor. Mr.S.Ramakanta, Dy. O.L. CORAM: CORAM: CORAM: A.M.KHANWILKAR,J A.M.KHANWILKAR,J A.M.KHANWILKAR,J DATE DATE DATE : NOVEMBER 17, 2008. : NOVEMBER 17, 2008. : NOVEMBER 17, 2008. P.C. P.C. P.C. : : : 1. Counsel Mr.Parekh for the intervenor submits that hearing of this Application be deferred until his request for intervention is considered. According to him, this Application is intended to protract the matter and is not honest application. Counsel for the Applicant points out that similar grievance was made by the intervenor before my Predecessor on 27th June, 2008 in Company Petition No.830 of 2008 and the same was rejected on the ground that the intervenor will get opportunity of being heard during the meeting of creditors, to be 2 convened by the Company. That position is stated in paragraph-4 of the Order dated 27th June, 2008. Following the same reason, I reject the request of the intervenor to defer the hearing of this application. 2. By this Application, the Applicant not only seeks extension of time to convene meeting of the shareholders and creditors of the Company in liquidation, but prays for further relief of dispensing with the Notice of meeting to the individual shareholders and permitting the Applicant to give public notice instead. Besides, it is prayed that the Court may permit to modify the scheme to the extent of settlement amount with each class of creditors and shareholders will be determined on the basis of mutually agreed terms and conditions. Insofar as this relief, Counsel for the Applicant submits that Applicant is not pressing for this relief at this stage. 3. Insofar as relief for extension of time to convene meeting of shareholders and creditors is concerned, the representative of the Official Liquidator submits that he has no objection, if the same is to be granted. In the circumstances, in the interest of justice and as last opportunity, time to 3 convene meeting of shareholders and creditors is finally extended till 22nd December, 2008. It is made clear that request for further extension on any count will not be entertained. 4. If steps are taken in time, scheme will have to be placed for modification. 5. Application disposed of on the above terms. (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J)