1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION rpa COMPANY APPLICATION NO. 138 OF 2010 IN COMPANY PETITION NO. 348 OF 2006 In the matter of under section 434 of the Companies Act ; B.I.FR. .. Petitioners. v/s. Canara Bank (Debenture Trustees) .. Applicants v/s. Official Liquidatore of Sharda Textile Mills (India) Ltd. .. Respondents .... R. D’Souza i/b. M/s. Umesh Shetty & Co. for the Applicants. The Official Liquidator-present. .... CORAM : S. J. KATHAWALLA, J. DATE : MARCH 10, 2010. P.C. This Application is taken out by the Applicant Bank (Debenture Trustees) seeking permission of this Court in terms of Section 466 of the Companies Act, 1956, to file a suit against the Company in Liquidation, M/s. Sharda Textile Mills (India) Limited through the Official Liquidator attached to this Court. The Applicants are the secured creditors and the property described at 2 Exhibit A to the Affidavit in support of the Application dated 6th March, 2010 is mortgaged to the Applicant. 2. The Company Application is allowed in terms of prayer clause (a). However, it is clarified that the decree, if any, passed against the Official Liquidator, shall not be executed without obtaining prior permission of this Court. 3. The Company Application is, disposed of. [ S. J. KATHAWALLA, J. ]