1 IN THE HIGH COURT OF JUDICATURE OF BOMBAY IN THE HIGH COURT OF JUDICATURE OF BOMBAY IN THE HIGH COURT OF JUDICATURE OF BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.1262 OF 2007 IN COMPANY PETITION NO.861 OF 2003 ETC Network Ltd. ..Petitioner. V/s. Headstart Advertising & Marketing Pvt.Ltd. ..Respondent. Mr.P.R.Jain i/b. Vigil Juris for applicant/- Orig.Respondent. Mr.H.N.Thakore i/b. Thakore Jariwala & Assoc. for Respondent/Petitioner. Mr.S.Ramakantha, Dy. O.L. CORAM: A.M.KHANWILKAR,J CORAM: A.M.KHANWILKAR,J CORAM: A.M.KHANWILKAR,J DATE : MARCH 7, 2008. DATE : MARCH 7, 2008. DATE : MARCH 7, 2008. P.C. : P.C. : P.C. : 1. The Ex-director has complied with requisitions of the Official Liquidator of producing necessary documents and it transpires from the said documents that the liability of the Company is now reduced to Rs.6.67 Crores; coupled with the fact that the original Petitioner has already received the claim amount from the Applicant company, which Pay Order has not been presented for realisation so far. Taking over all view of the matter in the interest of justice, the Application is granted in terms of prayer clause (b). 2 2. The restored Company Petition No.861 of 2003 shall be listed on 7th April, 2008 under caption "withdrawal". 3. In the mean time, the Company shall publish advertisement regarding proposed withdrawal to invite objection to support or oppose said withdrawal. That advertisement will have to be issued in two local newspapers on or before 19th March, 2008. 4. It is made clear that original Petitioner will be free to encash the Pay Order made over to the Petitioner by the Company. (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J)