: 1 : IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.585 OF 2006 IN COMPANY PETITION NO.273 OF 1998 Sobhagyamal Singhvi ....Petitioner V/s. Official Liquidator for DSJ Finance Corporation Ltd. ....Respondents And ICICI Bank Ltd. ....Applicant And The Court Receiver, High Court,Bombay ....Respondent Mr.Birendra Saraf with Mr.Sachin Chandarana and Mr.S. Chopda i/b M.K. Ambalal & Co. for the Applicant. Mr.S. Ramakantha, Deputy Official Liquidator present. CORAM : S.J. VAZIFDAR, J. DATED : 6TH MARCH, 2009. P.C. : 1. The Official Liquidator has not to date received any claim from any party claiming to be a secured creditor in respect of the property over which the Applicant has a charge. The property was in fact sold by the Court Receiver at the instance of the Applicant in a suit filed by the Applicant as debenture trustee against the company. The workers dues have not been computed as yet. The Chartered Accountants appointed by the Applicant have issued a certificate stating that the workers dues are about Rs.5,50,000/- on account of interest accrued thereon. : 2 : The interest of the workers could be safeguarded by ensuring that the assets of around Rs.20,00,000/- to Rs.25,00,000/- are retained. There is today an amount of about Rs.6,40,00,000/- invested by the Court Receiver in various fixed deposits. Mr.Saraf states that if the Applicant is paid this amount it is willing to bear any loss on account of breaking fixed deposits. 2. The stand taken by Mr.Saraf appears reasonable. The amounts are however lying to the credit of the said suit No.5237 of 1998. The Official Liquidator is a party to the said suit. Therefore, any application for withdrawal of the amounts must be made in the said suit. 3. The Company Application is accordingly disposed of.