1 ca556-11.sxw IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.556 OF 2011 WITH COMPANY PETITION NO.467 OF 1998 Manohar lalji J. Tibrewala .. Petitioner and Indian Bank .. Applicant Versus Official Liquidator of Unicorn Latex Co. .. Respondents Mr.Atit Shukla i/b. Pandya Gandhi & Co. for applicant Mrs.Rupa Sutar, Assistant O.L. CORAM : S.C.DHARMADHIKARI, J. 8th December 2011. P.C.: 1] This is an application seeking direction to Official Liquidator of the Company in liquidation to pay to the applicant a sum of Rs.5.50 lakhs with accrued interest. The applicant is a bank and rather a Nationalised Bank stating that it has a second charge over the sale proceeds. The first charge was that of SICOM. That having been paid and the balance sum being retained by the Official Liquidator, this Court should issue appropriate directions so that the amount can be paid over. 2] The Official Liquidator has filed an affidavit and principally it alleges delay on the part of the applicant in approaching this Court and seeking 2 ca556-11.sxw relief as claimed. 3] Applicant's Advocate states that the applicant could not approach this Court earlier because the claim of the applicant is much more and it was trying to explore possibilities of realising the same by disposing of the other assets and securities and that exercise having been completed recently, there is no delay in approaching this court and in any event, there is no question of lack of bonafides as the applicant being a Nationalised bank and the dues which it wants to recover are public dues. 4] Having perused this application and the annexures thereto, including the affidavit of Official Liquidator, I am of the opinion that in the facts peculiar to this Case, the delay deserves to be condoned. The Official Liquidator is directed to consider the claim of the applicant and if necessary documentary proof is produced in support of the plea of the applicant being second charge holder, then, the amount be remitted in accordance with law, as expeditiously as possible and within a period of six weeks from today. The company application is allowed in these terms. No costs. (S.C. Dharmadhikari, J)