:1: IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. O.O.C.J. O.O.C.J. COMPANY COMPANY COMPANY PETITION PETITION PETITION NO. 83 OF 2007 NO. 83 OF 2007 NO. 83 OF 2007 In the matter of Futuristic Offshore Services & Chemical Ltd. Mr. Dhanpalsingh Pratapshingh Jindani. ... Petitioner. .... Mr. L.S. Krishnamurthy for the Petitioners. Mr. Manish Bohra i/b. A.S. Khan & Associates for the Respondent. .... CORAM CORAM CORAM : DR. D.Y.CHANDRACHUD,J. : DR. D.Y.CHANDRACHUD,J. : DR. D.Y.CHANDRACHUD,J. 12th 12th 12th April 2007. April 2007. April 2007. P.C. P.C. P.C. : : : . Counsel appearing on behalf of the Respondent has placed on record an order passed by the B.I.F.R. on 21st September 2006, holding that the company is a Sick Industrial Company under Section 3(1)(o) of the Sick Industrial Companies (Special Provisions) Act, 1985. The B.I.F.R. has appointed the State Bank of India as Operating Agency to prepare a viability study report. 2. The Company Petition was instituted on 26th January 2007. This was after the proceedings had :2: been instituted before the B.I.F.R. Under Section 22 of the Sick Industrial Companies Act, 1985, no proceeding for winding up can lie or be proceeded any further where an enquiry under Section 16 was pending or a scheme under preparation. 3. In that view of the matter, Counsel appearing on behalf of the Petitioner prayed for leave to withdraw the Petition with liberty reserved to adopt appropriate steps in accordance with law. 4. The Company Petition is dismissed as withdrawn with liberty as prayed. -----