THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1488 OF 2010 IN R.C.C.No.11 of 1999 Dated: 18.02.2011 Between : A.P. State Financial Corporation …… Applicant And M/s. Ranka Cables Limited ……. Respondent The Court made the following:- THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1488 OF 2010 IN R.C.C.No.11 of 1999 ORDER : The respondent herein- M/s. Ranka Cables Limited was directed to be wound up by this Court by order dated 07.12.1999 in R.C.C.No.11 of 1999 and the Official Liquidator attached to this Court was appointed as its liquidator. Pursuant thereto, the Official Liquidator having taken possession of the assets of the company in liquidation had sold the same in terms of the order passed by this Court in Company Application No.416 of 2002. Thereafter, the Official Liquidator caused publication of notice inviting claims from the creditors and workmen of the company by fixing the last date for receipt of claims as 23.03.2002. All the claims received within that date were adjudicated by the Official Liquidator. The applicant herein, who claims to be one of the secured creditors of the company in liquidation filed the present application to condone the delay in filing its claim application before the Official Liquidator. It is stated in the affidavit filed in support of the application that the applicant had extended financial assistance to a tune of Rs.6,38,530/- on 10.07.1990 to the company in liquidation for acquiring Diesel Generator Set with exclusive first charge. Having obtained permission from this Court, it had stayed out side liquidation proceedings so as to pursue the rights under Section 29 of the S.F.C. Act for realizing the said debt. It is further stated that the Diesel Generator Set financed by the applicant-Corporation was soled by the Official Liquidator along with other machinery of the company in liquidation and thereafter the applicant-company approached Official Liquidator on 14.11.2006 with a request for payment of the amount due to the Corporation. The applicant also filed an affidavit of proof of debt in Form No.66 of Companies (Court) Rules, 1959 along with statement of accounts, copy of debt of hypothecation and etc. However, it was not accepted on the ground that the applicant failed to submit its claim before 23.03.2002 i.e. the last date fixed by the Official Liquidator for receiving the claims from the creditors. While stating that he applicant was under a bona fide impression that the amounts realized by the sale of the Diesel Generator Set financed by the Corporation would be paid to it and therefore, the claim application could not be made before the Official Liquidator within time, the present application is filed to condone the delay. I have heard the learned counsel for the applicant and perused the report filed by the Official Liquidator. Having regard to the facts and circumstances explained above, I deem it appropriate to condone the delay on the part of the applicant herein in making the claim application. Since such claim is required to be adjudicated upon by the Official Liquidator in accordance with law, the interest of justice would be met if the applicant herein is permitted to make his claim by condoning the delay. Accordingly, the Company Application is disposed of condoning the delay and permitting the applicant herein to submit its claim application before the Official Liquidator within two weeks from the date of receipt of this order. No costs. __________ G. ROHINI, J Date: 18.02.2011 Note: Issue CC in three days (B/o) Ivd