P. VENKATARAMA REDDI, J.

( 1 ) THESE appeals are filed by A. P. State financial Corporation against the order of the learned single Judge in directing the appellant-Corporation to deposit with the official Liquidator a sum of Rs. 10,000. 00 in R. C. C. No. 7 of 1999 and a sum of rs. 5,000/- in R. C. C. No. 3 of 1999 towards the preliminary expenses. The appellant is also aggrieved by the direction to advertise the factum of passing winding up order and to file proof of publication.

( 2 ) THE first respondent-Company was directed to be wound up by the learned company Judge on a reference made by bifr under Section 20 (1) of the Sick industrial Companies (Special Provisions) act. The appellant is a statutory corporation which advanced loans to the companies concerned on obtaining securities including the assets of the company. Thus, the appellant is in the position of a secured creditor. The appellant is endowed with the power of takeover and sale of assets to realize its outstanding dues under the provisions of the State Financial corporations Act. It can opt to remain outside the winding up proceedings and enforce the securities on its own, subject to the leave of the Court. It is

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