CoAppl-26/09 (1) In the High Court of Judicature for Rajasthan Jaipur Bench, Jaipur O R D E R S.B. Company Application No.26/2009 In S.B. Company Petition No.7/1993 IFCI Limited Vs. OL of M/s. Surya Power Limited (in liquidation) & Anr. & S.B. Company Application No.12/2009 In S.B. Company Petition No.7/1993 Bank of India Vs. M/s. Surya Powers Ltd (in liquidation) through OL & Anr. Date Of Order :: 07/10/2010 Hon'ble Mr. Justice Ajay Rastogi Mr. Ashish Tiwari, for applicant-IFCI Ltd-in Co.Appl.-26/09. Mr. Ajay Shukla, for applicant-Bank of India-in CoAppl-12/09. Mr. Anurup Singh, for Official Liquidator. Instant company applications have been filed seeking direction to the Official Liquidator to make payment of the amount lying in the account of company in liquidation M/s. Surya Power Limited amongst the secured creditors in equal proportion with other secured creditors. It has come on record that earlier the Company Court vide its order dt.31.7.06 while disposing of the S.B. Company Application- 24/2005 in S.B. Company Petition-7/1993 granted liberty to the parties for filing application seeking modification of the order after the decision in B. Shoes Ltd. Vs. Indian Overseas Bank [Special Leave to Appeal (Civil) No.3636/03] which has been decided by the Apex Court on 22.7.2010 in the light of the interim CoAppl-26/09 (2) order dt.14.11.03. Thereafter matter again came up before the Company Court on misc. application-40/07 wherein secured creditors sought direction against the Official Liquidator to disburse the amount to applicants from the amount of sale of securities of company in liquidation in equal proportion with other secured creditors, which was decided by the Company Court vide its order dt.15.2.2008 directing the Official Liquidator to decide claim petitions expeditiously preferably within six months. Mr. Anurup Singhi, counsel for applicant (OL), has informed to this Court that claims of secured creditors including IFCI and Bank of India and those other creditors who have submitted their claims have been adjudicated. In view thereof, both the present company applications have become infructuous. However, Official Liquidator is at liberty to file fresh application for disbursement of dividend by adopting the procedure provided under law. With these directions/observations, both the company application stand disposed of. (Ajay Rastogi),J. VS Shekhawat/-p.2 26CoAppl09Oct07FnlDsps.doc