THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1469 OF 2010 In COMPANY PETITION No.25 OF 1996 DATED: 01.12.2010 In the matter of Companies Act, 1956 And In the matter of OMC Computers Limited (In liqn.) Between: Central Bank of India, Branch Office, at Asset Recovery Branch, Regional Office, Hyderabad, rep. by its Assistant General Manager, Hyderabad. … Applicant Vs. M/s OMC Computers Limited (Under liqn.), rep.by the Official Liquidator, High Court of AP., Hyderabad. … Respondent THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1469 OF 2010 In COMPANY PETITION No.25 OF 1996 ORDER : This is an application filed by the Central Bank of India, which claims to be a secured creditor, to condone the delay of 29 days in filing the proof of debt before the Official Liquidator. M/s. OMC Computers Limited was ordered to be wound up vide order of this Court dated 10.09.1997 in C.P.No.25 of 1996 and the Official Liquidator attached to this Court was appointed as the Liquidator. Pursuant thereto, a notice was published in the newspapers on 21.5.1999 fixing 25.6.1999 as last date for filing the proof of debt. The applicant – the Central Bank of India claims that a sum of Rs.2,58,74,631-188 ps was due to it from the company under liquidation as on the date of winding up order and the present balance as on 20.09.2010 is Rs.34,95,01,794-77 ps. However the applicant Bank could submit the proof of debt to the Official Liquidator on 21.09.2010, since it was bona fide pursuing the remedy as per the provisions of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the proceedings were initiated before the Debts Recovery Tribunal, Bangalore in the year 1997 itself. It is also stated that recognising the right of the applicant Bank as a secured creditor, the Official Liquidator had remitted a sum of Rs.42,64,639/- on 29.4.2007 out of the sale proceeds of the mortgaged property. It is also stated that in view of the order passed by this Court dated 21.12.1998 permitting the applicant Bank to proceed with O.A.No.625 of 1997 which was pending before the Debts Recovery Tribunal, Bangalore and thus permitted to stay outside winding up proceedings, there is no necessity to file proof of debt before the Official Liquidator, however to keep the records straight and to avoid legal complications the applicant Bank had filed the proof of debt on 21.09.2010 and that the delay is not intentional. Accordingly, the present application is filed for condonation of the delay in filing the proof of debt. Having regard to the facts and circumstances noticed above and having heard the learned counsel for the applicant as well as the learned counsel appearing for the Official Liquidator, I am satisfied that the delay has been properly explained and therefore I deem it appropriate to condone the delay. Accordingly, the application is allowed and the delay in filing the proof of debt by the appellant Bank before the Official Liquidator is hereby condoned. No costs. ____________ G. ROHINI, J. Dt. 01.12.2010 gbs