THE HON’BLE Ms. JUSTICE G.ROHINI C.A.No.1509 of 2010 Date: 18.01.2011 Between: M/s. Sunrise Oleo Chemicals Limited, Rep., by its Official Liquidator, High Court of A.P., Hyderabad. …Applicant THE HON’BLE Ms. JUSTICE G.ROHINI Company Application No.1509 of 2010 O R D E R: M/s. Sunrise Oleo Chemicals Limited was ordered to be wound up by this Court by order dated 23.03.2001 in C.P.No.67 of 1991 and the Official Liquidator attached to this Court was appointed as its liquidator. In pursuance of the subsequent order dated 29.04.2004 made in C.A.No.1019 of 2008, the Official Liquidator had sold the plant and machinery of the company in liquidation and the possession of the said properties was handed over to the highest bidders on 31.05.2009. Subsequently, by order dated 19.02.2010 in C.A.No.133 of 2010 this Court directed the Official Liquidator to invite claims from the creditors of the company in liquidation. Accordingly, the notice was ordered in the news papers inviting claims and in response to the same, three claims were received. After adjudicating all the three claims, the Official Liquidator had issued individual notices in Form No.69/70 to the said three creditors. Accordingly, while submitting certificate of the list of creditors in Form No.71 in terms of Rule 167 of the Companies (Court) Rules, 1959, the Official Liquidator filed the present application to take on record the said certificate in Form No.71 and to permit the Official Liquidator to declare a dividend @ 7.0093 % of the admitted secured debt out of the sale proceeds of the movable assets of the company in liquidation. While explaining that the certificate in Form No.71 could not be filed within three months from the last date fixed for submission of proofs since the secured creditors failed to file their claims within the stipulated date, the Official Liquidator has also prayed to condone the delay of 145 days in filing the certificate in Form No.71. The Official Liquidator also sought for other consequential reliefs as under: i. Condone the delay of 145 days in filing the certificate in Form No.71 of the companies (Court) Rules, 1959 before this Hon’ble Court with respect to the adjudication of claim of the secured creditors with the memorandum of admission/rejection of the claims on record. ii. Take the certificate in Form No.71 filed as Annexure-A in respect of M/s. Sunrise Oleo Chemicals Limited in liquidation relating to the claims of the secured creditors with the memorandum of admission/rejection of the claims on record. iii. Direct the Registrar to notify the said Form No.71 on the notice board of this Hon’ble Court in terms of Rule 169 of the Companies (Court) Rules, 1959. iv. Declare a dividend @ 7.0093% admitting to Rs.31,17,601/- of the admitted secured of Central Bank of India a secured creditor of this company out of the sale proceeds of movable assets as detailed in Annexure-B. v. Permit the Official Liquidator to pay the dividend from the P/D account of the company in liquidation since the dividend to be declared is in respect of only one secured creditor of the company. vi. Dispense with the publication of notice of dividend in newspapers as the same is in respect of one creditor. vii. Authorise Official Liquidator to send the notice of dividend in Form No.138. viii. Authorize Official Liquidator to fix the schedule for making payment. ix. Authorize Official Liquidator to take all necessary actions and steps which are incidental to declaration and payment of dividend and to effectively implement the orders of this Hon’ble Court in that regard. x. Order that the costs of this application do come out of the Estate of the Company in liquidation. I have heard Sri M.Anil Kumar, learned counsel for the Official Liquidator. The affidavit filed in support of the application shows that a sum of Rs.43,41,369/- is available to the credit of the company in liquidation after appropriation of liquidation expenses and Central Government fees. The statement of the claims received from the creditors has been shown in the affidavit filed in support of the application and the certificate in Form No.71 as well as calculation of amount available for proposed distribution of dividend have been filed as Annexures A and B respectively. Sri M.Anil Kumar, the learned counsel for the Official Liquidator states that the particulars furnished in the affidavit as well as the Annexures A and B with regard to the amount available for proposed distribution of dividend are in order. Accordingly, the application is disposed of granting all the reliefs. No costs. ______________ G.ROHINI,J Date : 18.01.2011 KLP