S.K. Keshote, J.-This application has been filed under Section 456 of the Companies Act, 1956, read with Section 468 of the said Act and Rule 9 of the Companies (Court) Rules, 1959, with the prayer that the respondent-Board be directed to make payment of the dues of Rs. 20,84,284 alongwith interest at the rate of 18 per cent, per annum and/or in the alternative direct the Chief Presidency Magistrate/District Magistrate of Mumbai for recovery of the amount aforestated along with interest at the rate of 18 per cent, per annum from the respondent-company and deliver it to the official liquidator.

2. Therespondent, Maharashtra State Electricity Board, is a trade debtor of the company in liquidation. The ex-directors of the company in liquidation submitted their statement of affairs on September 13, 1994. In Schedule II title as “trade debtors” enclosed with the statement of affairs the ex-directors have shown the name of the respondent which is appearing at No. 11 and a debt has been shown to be recovered from it to the tune of Rs. 20,84,824. The photo copy of the statement of affairs is enclosed with the application as annexure 1. It is stated that the debt has been shown by