1 ca-253-11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY APPLICATION NO. 253 OF 2011 IN COMPANY PETITION NO. 542 OF 2006. B.I.F.R. ..Petitioner. And M/s. Sriman Organics Chemicals Industries Limited. ..Applicant. vs. The Official Liquidator of M/s. Sriman Organics Chemical Industries Ltd. ..Respondent. .... Mr. E.P. Bharucha, Senior Counsel, a/w. Mrs. Manorama Mohanty & Mr. Gunjan A. Shah, i/b. S.K. Srivastav & Co., for Applicants. Dr. T. Pandian, Official Liquidator. .... CORAM : S.J. KATHAWALLA, J. DATE : 14TH JULY 2011. P.C. : By this Application, the Respondent Company has sought condonation of delay of 586 days in taking out the Company Application and has further prayed that the order dated 16th July 2009 passed by this Court in the above Company Petition be set aside and the appointment of the Official Liquidator by the said order dated 16th July 2009 be vacated. The above Application is filed in the following circumstances. 2. By an order dated 12th October 1999, the Respondent Company was declared sick by the B.I.F.R. and an operating agency was appointed. On 1st April 2003 the B.I.F.R. by its order directed/recommended winding up of the Company. By an order 2 ca-253-11 dated 16th September 2005, the A.A.I.F.R. rejected the Appeal filed by the Respondent Company against the order passed by the B.I.F.R. dated 1st April 2003. On 16th July 2009, this Court admitted the winding up Petition as recommended by the B.I.F.R. On 1st November 2006 in a Writ Petition filed before the Delhi High Court by the Respondent, the order passed by A.A.I.F.R. dated 16th September 2005 was set aside and the matter was remanded to the A.A.I.F.R. On 16th January 2007, the A.A.I.F.R. remanded the matter to B.I.F.R. 3. On 26th July 2007 B.I.F.R. passed an order recording that all the secured creditors of the Respondent Company are paid off and the net worth of the Respondent Company was also positive. In view thereof, the order passed by the B.I.F.R. dated 1st April 2003 directing the winding up of the Respondent Company was not in force thereafter and this Court could not have ordered winding up of the Company on 16th July 2009 based on the recommendation of the B.I.F.R. dated 1st April 2003. It is obvious that this Court passed an order dated 16th July 2009 because the aforestated facts were not brought to the attention of this Court when the said order was passed. In view thereof, the Company Application is allowed in terms of prayer clauses (a) to (d). However, the Respondent Company shall pay within a period of two weeks from today an amount of Rs.25,000/- to the Official Liquidator towards his costs, charges and expenses and also the actual advertisement expenses incurred by the Liquidator. [ S.J. KATHAWALLA, J. ]