1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR C.A.O.NO.199 OF 2011 IN O.L.R.NO.89 OF 2002 ARISING OUT COMPANY PETITION NO.1 OF 1997 In the matter of M/s.Mid India Oil & Exports Ltd. (In Liquidation) ................................................................................................................................ Office Notes, Office Memoranda of Coram, appearances, Court's orders Court's or Judge's order of directions and Registrar's orders ................................................................................................................................ Shri Anjan De, Counsel for the Official Liquidator Shri A.T.Purohit, Counsel for the respondent. CORAM : R. K.DESHPANDE, J. DATE : 29th APRIL, 2011. By this application the direction is sought to the Official Liquidator to refund the sum of Rs.62.00 Lacs to the applicant Canara Bank. The Official Liquidator had filed Pursis dated 6.4.2011, bearing Stamp No.3521 of 2011 and has stated that if an amount of Rs.30.00 Lacs is given to the Canara Bank, the the Official Liquidator has no objection. However, it should be subject to the undertaking that the Canara .....2/- 2 Bank will pay that much of amount as may be required by the Official Liquidator for settling of claim of creditors having priority under Section 529-A of the Companies Act, 1956. The applicant Canara Bank has also filed Pursis dated 25.4.2011 showing its willingness to accept an amount of Rs.30.00 Lacs as offered by the Official Liquidator by complying with the condition by furnishing an undertaking, as desired. It is further urged that this shall be without prejudice to the rights of the Bank to refund of the entire amount. In view of above, the respondent Official Liquidator to refund an amount of Rs. 30.00 Lacs to the applicant upon furnishing of an undertaking as desired in the Pursis dated 6.4.2011 by the Official Liquidator. The Official Liquidator shall permit inspection of the accounts in respect of utilization of Rs.63.00 Lacs as regards the balance amount. It is made clear that this is all without prejudice to the rights of the parties. Shri A.T.Purohit, the learned Counsel .....3/- 3 appearing for the respondent has further invited my attention to para-3 of the Pursis filed by the Canara Bank, wherein the direction is sought to the Official Liquidator to render the accounts of utilization of Rs.63.00 Lacs by the Canara Bank. Shri Anjan De, the learned Counsel appearing for the Official Liquidator submits that inspection shall be permitted to the applicant, in respect of such accounts. In view of this, the grievance as above, does not survive. The application stands disposed of. JUDGE BrWankhede ...../-