JUDGMENT :

(1.) Company Application No.17 of 2019 has been filed by Narmada Fintrade Private Limited (a summons) for the following main reliefs:

"(A) Your Lordships be pleased to direct the OL to disburse the surplus amount lying with its office in the accounts of Liquidations proceedings of the M/s Omex Investors Limited (In Liquidation) to all the Share Holders/Contributors of the Company, in accordance with Law;

(B) Pending the admission and hearing of the present application, Your Lordships may be pleased to pass an ad-interim order directing the OL to disburse the surplus amount lying with its office in the accounts of Liquidation proceedings of the M/s Omex Investors Limited (In Liquidation) to the Applicant, being the Share Holder/Contributory of the Company, in accordance with law;"

(2.) Company Application No.67 of 2019 has been filed by State Bank of India (a summons) praying as follows:

"(A) That the H'ble Court be pleased to call for the records and proceedings of Company Application Nos.366 of 2016 and Company Application 17 of 2019 and direct and order the opponent/respondent no herein in Company Application 17 of 2019 and official Liquidator both to join/direct and order joining the applicant bank i.e. State Bank of India herein as a party respondent/opponent and also direct and order the respondent no 2 Official Liquidator to disclose and declare that the applicant bank is a secured creditor and disclose the amount claimed by the applicant bank with interest, costs, charge and expenses as stated in the affidavit in support of this summons.

(B) That the H'ble Court be pleased to pass such other and further orders deemed fit and proper on the facts and the circumstances of the case."

(3.) Dealing with the Company Application No.17 of 2019 first, it is the case of the applicant that the applicant - Narmada Fintrade Private Limited, is a majority shareholder of Ms/. OMEX Investors Limited which company was wound up by this Court vide order dated 06.03.1990.

(4.) The applicant had preferred an application being Company Application No.19 of 2018 seeking disbursement of surplus funds to the shareholders/contributories. By an order dated 18.12.2018, the Company Court allowed the application. The Court taking note of the fact that a fund of Rs.20 crores be set aside, thereafter permitted disbursement of balance amount to the shareholders/contributories. Pursuant to the said order as per the report of the Official Liquidator filed in the present application, the applicant received an amount of Rs.88,56,53,726/- towards contribution of 10 shareholders in compliance of the order. It is the case of the applicant that there are still more surplus funds lying with the Official Liquidator after the order passed on 18.12.2018 and after the aforesaid disbursement and the prayer therefore as aforesaid.

(5.) Mr.Apurva Vakil learned counsel for the applicant would invite the Court's attention to the order dated 18.12.2018 and submit that the amounts as aforesaid have been paid and there are surplus funds with the Official Liquidator and therefore the prayer for further disbursement.

(6.) Mr.Vakil would invite the attention of the Court to an order dated 24.10.2018 passed in Company Application No.366 of 2016 (filed by State Bank of India) with Company Application No.7 of 2018 filed by ARCIL, wherein, this Court, considering the application filed by the State Bank of India for a prayer to disburse Rs.7,23,31,47,686.69 towards dues, disposed of the application.

(7.) Inviting the Court's attention to the Official Liquidator's report filed in the present proceedings, Mr.Vakil would submit that there is a fund of Rs.25,53,08,327/- as on 28.02.2019, from which, keeping aside Rs.20 crores and taking into consideration the accumulated interest for the period post 2019, a reasonable amount can be disbursed.

(8.) Ms.Bhoomi Thakore learned advocate app