1.This petition along with other petitions were fixed on 17.12.2002 and this court has admitted the present petition as well as Company Petitions No. 52/90, 57/90, 103/90 and 104/90. The Court has, however, deferred the publication of advertisement in the news paper on the condition that the respondent-company would deposit the amount of Rs. 1 lac in each of these five petitions within a period of four weeks from the date of the said order and if, the respondent-company fails to deposit the said amount within this period, the advertisement would be issued in Company Petitions No. 103/1990 and 104/1990 in English Daily Indian Express, Surat Edition and Gujarati Daily Janasatta Surat Edition and the date of final hearing was fixed on 14.2.2003.
2.It appears that the aforesaid order was complied with and no advertisement was issued. Thereafter, the above company petition was fixed on 16.6.2004 and the court has recorded the statement of Ms. Swati Soparkar ld. advocate for the respondent-company that the company has settled with all other petitioning creditors and the respondent-company was prepared to settle the matter with the present petitioning-company, however, there was no response from the petitioner. The matter was thereafter, adjourned from time to time. On 27.10.2004, this court has recorded the statement of Mr. Calla ld. advocate appearing for Nanavati Associates on behalf of respondent-company that the parties are negotiating the terms of settlement and hence, time was sought for. The matter was adjourned to 1.12.2004. Even today also, no terms of settlement was placed on record. The petition is of 1989 and more than 15 years are passed and the matter is listed on the Board for more than 70 times. Since the matter is already admitted on 17.12.2002 and since the matter is not settled till this date, the order of advertisement is bound to follow. Accordingly, the order of advertisement is hereby passed directing the petitioner to effect the publication of advertisement in English Daily, namely Indian Express, Surat edition and Gujarati Daily, namely, Gujarat Mitra, Surat edition, fixing the date of final hearing of the petition on 16.2.2005. The publication of advertisement in Official Gazette is dispensed with. SO to 16.2.2005.
(K.A. PUJ, J.) mandora/