Judgment :

P.K. BALASUBRAMANYAN, J.- Appellant 1 Rajasthan State Financ Corporation, is a corporation constituted under Section 3 of the S Financial Corporations Act, 1951 (hereinafter referred to as "the SFC Act Appellant 2 Rajasthan State Industrial Development and Invest Corporation Limited, is a deemed financial institution by virtue of exercise power by the Central Government under Section 46 of the SFC Act. appellants are the secured creditors of MIs Vikas Woollen Mills (hereinafter referred to as "the company-in-liquidation"). By an order da 14-6-1994, the Company Judge of the High Court of Bombay Qrdered. company-in-liquidation to be wound up. The Official Liquidator was direc to take charge of the assets of the company-in-liquidation. On 18-4-1995, the Official Liquidator applied for directions to the Company Court. He sought permission to get the property valued by a valuer from the panel of value the Official Liquidator, and to sell the properties by public auction. He sought the issue of a direction to the appellants, the secured creditors, to adv Rs 25,000 each to the Official Liquidator to meet the expenses for selling, assets of the company-in-liquidation on conditio