debate between me and another

[representing]

So I'm ref'ing a JV basketball game today and my partner, before the game, tells me about a game he did last night.

A and B in a JV game. Girls game. B was pressing A, and the ball was taking out on the baseline. My buddy tells me he's the lead on table side, and is at the half court during the pressing. A1 throws the ball into A2 and has control of ball. At this time, my buddy tells me he has heard a coach yell "time out" and blows his whistle to award the time out. But, when he turns around, he realized it was B's head coach calling the time out and not A, while A had the ball inbound. What do you have?

I was debating about this with another referee at the bar tonight, and he said that it is an inadvertent (spelling) whistle and that you go to the arrow. I disagree because A had control of the ball, thus should still possess the ball in their control. But, do you then give B their time-out because the clock is dead and the ball shall be taken out of bounds? I'm confused, and I didn't get a chance to look it up in the rule book under NFHS rules.