1 13.sj.39.10.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMONS FOR JUDGMENT NO. 39 OF 2010 IN SUMMARY SUIT NO.165 of 2006 ata Rabo India Finance Private Limited .. Plaintiff V/s. Official Liquidator .. Defendant Ms. Jyoti Sinha i/b M/s. Negandhi Shah & Himayatullah for the Plaintiff. Mr. L. T. Satelkar for the Official Liquidator. CORAM :S.J.KATHAWALLA,J. DATE : 30TH MARCH,2011 P.C.:- By this Summons for Judgment the plaintiff has prayed that the judgment be entered for the plaintiff in this Suit against the defendant for a sum of Rs.70,32,583.30/- as set out in the particulars of claim annexed to the plaint as exhibit “M” together with further interest on principal sum of Rs.46,50,000/- at such rate as this court may deem fit and proper from the date of filing of the Suit till payment or realization and cost of the Suit. 2 13.sj.39.10.sxw 2. The Suit was filed on 24th November,2005 against the Defendant Company Rainbow Corporation Ltd . At the time of filing of the suit the Plaintiff was not aware that the official liquidator High Court Bombay is already appointed as Provisional liquidator of the defendant company. 3. By an order dated 18th February, 2005 the Defendant company was ordered to be wound up and the official liquidator was appointed liquidator of the Defendant Company. The plaintiff thereafter sought leave of this court to join the official liquidator as party Defendant to the suit and to proceed with the suit against the official liquidator. This leave was granted by this court (Coram:Dr.D.Y.Chandrachud, J) by it’s order dated 13th April,2007 4. Today, the learned Advocate appearing for the official liquidator submits that the official liquidator is satisfied that the amount claimed by the plaintiff against the company ( in liquidation ) is due and payable by the company to the plaintiff and that a decree may be passed in favour of the plaintiff as prayed. However, he submits that the plaintiff being an unsecured creditor of the company in liquidation the decreetal amount shall be proportionately paid to the Plaintiff out of the funds available with the official liquidator for disbursement amongst the unsecured creditors. The learned Advocate for the Plaintiff agrees with the submission made on behalf of the official liquidator. In view thereof the Suit is decreed in terms of prayer clause (a)which reads as under:- 3 13.sj.39.10.sxw Prayer clause (a): “that the official liquidator appointed on the assets of the defendant be ordered and decreed to pay to the plaintiff a sum of Rs.70,32,583.30/- (Rupess seventy lacs thirty two thousands five hundred eighty three and thirty paisa) as per EXHIBIT “M” hereto with further interest at the rate of 18% per annum on the amounts of the security deposit of Rs.46,50,000/- from the date of the filing of the above suit till the date of the payment and / or realization” 6. The plaintiff shall also be entitled to receive from the defendant the cost of the Suit. 7. The Summary Suit as well as the Summons for Judgment are accordingly disposed of. ( S.J.KATHAWALLA ,J.)