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.650 OF 2007 IN COMPANY PETITION NO.112 OF 1983 M/s.Marketing Advertising Associated Pvt.Ltd. ..Petitioner. V/s. M/s.New India Fisheries Ltd. & Anr. ..Respondents. And Bank of Baroda. ..Applicant. Mr.Anant R. Bamne for Applicant. Mr.Sandeep Bhimekar i/b. Wadia Ghandy & Co. for respondent. Mr.D.Mitra,for 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 reliefs claimed in this application can be granted provided, the Applicant is made liable to reimburse the amount, as and when required and called upon by the Official Liquidator for the purpose of distribution of declared dividend in terms of Sections 529-A and 530 of the Companies Act. The Application in terms of prayer clause (a) is granted on that condition. 2 2. The argument of the Applicant that as of now there is no pending claim, does not mean that in future if some claim is registered and adjudication order is passed in favour of such claimant, the Applicant will be able to resist reimbursement of such amount. The direction to reimburse will be obviously subject to discretion exercised by the Company Judge to condone delay in registering future claim, if any. 3. In the circumstances, relief claimed in the prayer clause (a) of the Application is granted subject to above condition. 4. In so far as the prayer clause (b) is concerned, even the same is granted on clear understanding that the Applicant shall be obliged to reimburse the amount, as and when called upon by the Official Liquidator to effectuate distribution of the declared dividend in terms of section 529A and 530 of the Companies Act. 5. Application disposed off on the above terms. (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J) (A.M.KHANWILKAR,J)