1 cp-1106-01 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY PETITION NO. 1106 OF 2001. Sanjay Bhassin. ..Petitioner. v/s. M/s. Sai Automotive Ancillaries Pvt. Ltd. & Anr. ..Respondent. .... Mr. B.B. Parekh, for Petitioner. Mr. Satendra Kumar, i/b. Gopal R. Hegde, for Respondent No.2. Mr. Ginni Gulshan Vijan, Respondent No.2, present in person. Deputy Official Liquidator, present. .... CORAM : S.J. KATHAWALLA, J. DATE : 1ST OCTOBER 2010. P.C. This Petition is filed by the Petitioner under section 433F of the Companies Act, 1956. The shareholding of the Petitioner and the Respondent No.2 is 50% each. 2. By an order dated 29th November 2001, the Company Petition was admitted and the Official Liquidator was appointed as Provisional Liquidator of the Company. The Company Petition was advertised. However, no claims were received from any creditors, workers or any other person. 3. Parties have thereafter settled their differences and have advertised settlement / withdrawal of the Petition to which no claims are received. The Affidavit proving service of publication dated 31st 2 cp-1106-01 August 2010 is on record. 4. The Company Petition is, therefore, disposed of as withdrawn subject to the following conditions :- (i) The Petitioner and the Respondent No.2 shall execute an indemnity in favour of the Liquidator indemnifying the Liquidator qua any action taken against the Liquidator by any creditor, worker or any other person having a claim against the Company. (ii) The Petitioner shall pay costs of the Liquidator quantified to Rs.25,000/-. (iii) The Liquidator shall hand over the possession of the records and properties as well as the funds to the credit of the Company to the Petitioner and the Respondent No.2 upon compliance of the conditions set out in clauses (i) and (ii) above. [ S.J. KATHAWALLA, J. ]