1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY APPLICATION NO.295 OF 2009 IN COMPANY PETITION NO.348 OF 2006. Asset Reconstruction Co.(India) Ltd. ..Applicant/Assignee of secured Creditor. And Union Bank of India. ..Secured Creditor. vs. M/s. Sharda Textile Mills (I) Ltd. ..Respondent. .... Mr. Hemant Prabhavalkar, i/b. Juris Consultus, for Applicant. Mr. M.M. Chandanamuthu, Deputy Official Liquidator, present. .... CORAM : S.J.KATHAWALLA, J. DATE : 13 TH AUGUST 2009. P.C. The present application is taken out by the applicant, seeking directions against the Official Liquidator to distribute, pending adjudication of the workmen’s claims within 15 days from the date of order, to the applicants and other secured creditors, if any, the net sale proceeds of the assets of the company situated at plot no. C-3, in the Dombivli Industrial Estate, situate at Village Sagaon, with the registration sub-district of Kalyan District, Thane. 2 2. In the affidavit in support of the company application, the applicants have contended that they have a claim of Rs. 22,87,91,650/- as on 30 th June 2008 against the company. The Liquidator has informed this Court that the claim of the applicant has been adjudicated and an amount of Rs.5,05,12,403/- is admitted by the Liquidator. The same will be distributed in due course, i.e. after completion of adjudication of claims lodged by the other secured creditors. He also submits that if the applicant is dis-satisfied with the decision of the Liquidator, the creditor may, within 21 days from the service of the notice upon him of the decision of the Liquidator, appeal to the Court by way of a judge’s summons. 3. In view thereof, company application stands disposed of with no order as to costs. [ S.J.KATHAWALLA, J. ]