R.M. Chhaya, J.

Heard Mr. D.S. Vasavada, learned counsel for the applicant - Textile Labour Association, Ms. P.J. Davawala, learned counsel for respondent No.1 - Official Liquidator, Mr. Uday R. Bhatt, learned counsel for respondent No.2 - State Bank of India, Mr. R.D. Dave, learned counsel for respondent No.3-G.I.I.C and Ms. E. Shailja, learned counsel for respondent No.4.

2. By this application, the applicant has prayed for the following reliefs :

"(A) Be pleased to direct the Official Liquidator to pay an amount of Rs. 12,69,67,676.58 to 1247 workmen from the surplus available with him after the disbursement to the workers and secured creditors has been made;

Alternatively

(B) Be pleased to direct the Official Liquidator to pay Rs. 3,02,88,415/- to 1247 workmen as 4 % interest in proportion to the surplus available after the disbursement;

(C) Be pleased to direct the Official Liquidator to disburse the amount by A/c. Payee cheque to each of the workmen on identification by the applicant Union;

(D) xxx"

3. Learned counsel for the parties have taken this Court through the factual matrix arising out of this application. Record indicates that the Company named Bansidhar Mills Ltd. was ordered to be wound up vide order dated 31.03.1986 passed by this Court in Company Petition No.79/1982. The Official Liquidator attached to this Court was appointed as liquidator of the Company (in liquidation) and the Official Liquidator took possession of the immovable and movable properties of the Company (in liquidation). The Official Liquidator was directed to dispose of the properties of company (in liquidation). Upon approval being granted by this Court, immovable properties belonging to the Company were sold and the money came to be realized by way of sale consideration.

4. Record indicates that the applicant filed Company Application being Company Application No.178/2004, which was disposed of vide order dated 02.11.2004, wherein this Court (Coram : Hon'ble Mr. Justice D.A. Mehta, as his Lordship the then were) was pleased to pass the following order :

"7. The Official Liquidator is accordingly directed :

"[a] to distribute a sum of Rs. 2,14,31,912/- to the applicant i.e. Workmen of Bansidhar Spinning and Weaving Mills Ltd. (company in liquidation). Such payments shall be made by way of Account Payee Cheque on identification by a representative of the applicant association and as per details submitted by the applicant-union.

[b] A sum of Rs. 4,74,83,666/- be paid to State Bank of India.

[c] A sum of Rs. 7,02,029/- be paid to Gujarat Industrial Investment Corporation.

It will be open to the Official Liquidator to prematurely encash the Fixed Deposit Receipt for the aforesaid purpose."

5. Record further indicates that thereafter the applicant filed another company application being Company Application No.358/2008, wherein this Court (Coram : Hon'ble Mr. Justice Jayant Patel, as his Lordships the then were) vide order dated 04.08.2009 considered the following three questions :

"Broadly, the questions to be considered in the present group of applications are as under:

1. The entitlement of a secured creditor for an amount which could not be paid to him though proved on account of the operation of Section 529A of the Companies Act (hereinafter referred to as 'the Act')

2. The entitlement of the interest by a secured creditor after the date of winding up based on the Decree of any competent forum.

3. The entitlement of the interest by the workers over the unpaid wages after the date of winding up claiming the status at par with the secured creditor taking the base of Section 529A of the Act."

6. The said application culminated into the order dated 04.08.2009, whereby it was held as under:

"20. In view of the aforesaid discussions and observations, the following conclusion

1. If after the satisfaction of the debt under Section 529A, any surplus/