1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.674 OF 2001 Futuristic Offshore Services & Chemical Ltd. ..Petitioner. V/s. M/s.Refnol Resins & Chemicals Ltd. ..Respondent. Mr.Sachin Joshi i/b. M.G.Mimani for petitioner. Mr.Ankit Bhatt i/b. Law Point for respondent. CORAM:- A.M.KHANWILKAR, J DATED :- JUNE 11, 2009. P.C.: 1. Counsel for the Respondent points out that BIFR has already formulated scheme in terms whereof, the Respondent is required to pay claim amount of the Petitioner in installments. The last installment is payable on 30th March, 2010. In other words, the cause of action for institution of this Petition has merged with the arrangement directed by the BIFR. In the event the Respondent fails to comply with the directions of the BIFR it will be always open to the Petitioner to make grievance in that 2 behalf before the BIFR or take recourse to such other remedy including the Company Petition for winding up, if so advised. Those proceedings will have to be decided on its own merit. In the circumstances, this Petition is disposed of with liberty to the Petitioner, as aforesaid. Ordered accordingly. (A.M.KHANWILKAR, J)