1 mss CA266 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO. 266 OF 2011 IN COMPANY PETITION NO. 14 OF 1997 M/s. SARIGAM CONTAINERS PVT. LTD. .. PETITIONERS AND C.D. SECURITIES SERVICES NETWORK LTD. APPLICANT Vs. THE OFFICIAL LIQUIDATOR OF M/s. MEGATUL INDUSTRIES LTD. .. RESPONDENT Mrs. M. P. Thakur for the Applicant Mr. Vishesh Malviya i/b M/s. Federal Rashmikant for petitioner in Company Petition No. 360 of 1998 Mrs. Rupa Surve, Asstt. O.L. Mr. Rajesh Talekar i/b K. Ashar & Co. for R-2 in CP No.360/98. CORAM: S. C. DHARMADHIKARI, J. DATED: 20/10/2011 P.C. Heard learned advocate appearing for the applicant and the 2 mss CA266 Official Liquidator. 2. Perused the earlier order where under notice was issued to the Union Bank of India. The notice has been duly served. None is present on behalf of the Union Bank, Veer Nariman Road Branch, Mumbai. 3. My attention is invited to paragraph 12 of the affidavit-in-reply / report of the Official Liquidator. The Asstt. Official Liquidator confirms that the outstanding security charges are Rs.12,49,611/- and they are due and payable from 1999 till 2011. It is stated that the same is duly verified and scrutinized on the basis of the receipts and vouchers which have been produced for perusal of the Official Liquidator. The same is thus outstanding and payable. 4. In these circumstances, it is directed that Union Bank of India which is the secured creditor for whom the Official Liquidator after taking possession of the immovable property has appointed the applicant as security guards to safeguard and protect it, shall release the sum of Rs.12,50,000/- in favour of the applicant within a period of two months from the date of receipt of copy of this order by it. 3 mss CA266 Application is disposed of. (S. C. DHARMADHIKARI, J.)