JUDGMENT : 1. Heard the parties through video conferencing. 2. These are the petitions filed under Section 433 (e), 434 read with Section 439 of the Companies Act, 1956 for winding up of the company namely Nalanda Ceramics and Industries Ltd. The said Nalanda Ceramics and Industries Ltd. was ordered to be wound up by this Court vide order dated 24.10.1989. Thereafter, the official liquidator was appointed who took possession of the property. The official liquidator by adopting due procedure put the property for sale and the sale has been confirmed vide order dated 21.11.2014 by this Court in favour of M/s Vivan Industries Private Limited for a consideration of Rs.2,03,00,000/-. The auction purchaser M/s Vivan Industries Private Limited took possession of the property on execution of the sale deed. There was delay on the part of the said auction purchaser- M/s Vivan Industries Private Limited in depositing the sale consideration amount only in respect of 3rd and 4th installment but within the stipulated date, the total auction amount has been paid by the auction purchaser- M/s Vivan Industries Private Limited and the delay in depositing the 3rd and 4th installment of the sale has been condoned by this Court vide order dated 16.01.2020. In compliance of the order dated 05.08.2011 passed by this Court notice of claim was published in newspaper on 11.08.2011 and the last date of submission of claims was scheduled on 30.09.2011. The Official Liquidator discussed the issue with the main stake holders in regard to admission of the claim and all the main stake holders of the company agreed to get their share as per their ratio of the amount admitted as secured and the main stake holders in the company did not have any objection in this regard and they also agreed for the claim of RIADA which has now been renamed as JIADA and which is also standing in the queue of secured creditors. The official liquidator has submitted a report and in paragraph no.5 of the report the amount admitted as secured and the amount admitted unsecured/ preferential has been furnished by the official liquidator which is as under :- Sl. No. Name of Claimant Amount Claimed (Rs.) Amount Admitted as Secured (Rs.) Amount Admitted as Unsecured/ preferential (Rs.) 1. IDBI 20,13,75,636 3,84,90,055 NIL 2. IFCI 1,50,95,256 1,50,95,256 NIL 3. SBI 91,92,02,110 2,87,98,616 89,04,03,494 4 BSFC 34,74,17,330 1,87,53,706 32,86,63,624 5. No. Name of Claimant Amount Claimed (Rs.) Amount Admitted as Secured (Rs.) Amount Admitted as Unsecured/ preferential (Rs.) 1. IDBI 20,13,75,636 3,84,90,055 NIL 2. IFCI 1,50,95,256 1,50,95,256 NIL 3. SBI 91,92,02,110 2,87,98,616 89,04,03,494 4 BSFC 34,74,17,330 1,87,53,706 32,86,63,624 5. EPFO 6,462 6. JSEB 4,28,248 4,28,248 7. RIADA (Now JIADAZ) Ranchi Region 89,37,940 89,37,940 NIL Total 11,00,82,035 3. The amount of sale of the assets has been kept in fixed deposit and presently the amount of 2,62,00,000/- is lying in the account of the said company in liquidation and after deducting the pending liquidation expenses and Central Government Commission, Audit fees, Advocate fee etc. Rs.2,40,00,000/- is available for disbursement of dividend. 4. Mr. Himanshu Kr. Mehta, the learned counsel appearing for the Official Liquidator submits that the amount of Rs.2,40,00,000/- was lying as on 12.02.2020 and submits that by now some more amount has been added as interest on the said amount. It is submitted by Mr. Mehta, learned counsel appearing for the official liquidator that the Official Liquidator is in a position to declare dividend at the rate of 21% (in the report of the official liquidator this figure has been mentioned as 31% but Mr. Mehta- the learned counsel for the official liquidator, submitted that the same is a printing error and the said figure be read as 21%) of the Amount Admitted as Secured as mentioned in column 4 of the table mentioned in this order or a bit more being proportional amount of the interest accrued on the said amount of Rs.2,40,00,000/- from 12.02.2020 to till the date of disbursement of the dividend, can be paid by the official liquidator to all the secured creditors from serial nos.1 to 7 except serial no.6 as mentioned in the aforesaid table. Hence, it is submitted by Mr. Himanshu Kr. Mehta that Official Liquidator may be allowed to declare the dividend at the rate of 21% of the Amount Admitted as Secured as mentioned in column 4 in respect each of the claimant, of the table mentioned in this order and also the proportional interest amount on the said amount of Rs.2,40,00,000/- from 12.02.2020 to till the date of disbursement within one month from the date of this order. The second prayer of the official liquidator is that keeping in view that the number of creditors are only six, the compliance of Rule 290 of the Companies (Court) Rules 1959 (official Liquidator’s Dividend Account) be waived and the official liquidator be allowed to issue cheques. The third prayer of the official liquidator is that after issue of the dividend cheques in favour of the creditors and other payments of liquidation expenses as mentioned above and after clearance of the dividend cheques from the bank, the company Nalanda Ceramics and Industries Ltd. may stand dissolved and an appropriate order for dissolution of the company under Section 481 of the Companies Act 1959 be passed. 5. Mr. Ashok Kumar Yadav, learned counsel appearing for BSFC, Mr. Rajesh Kumar, learned counsel appearing for SBI & IFCI, Mr. Manish Kumar, learned counsel appearing for IDBI and Mr. Sachin Kumar the learned counsel for the auction purchaser have no serious objection to the prayer for official liquidator. 6. Considering the aforesaid facts, these petitions are finally disposed of with the following directions:- (i) The official liquidator is directed to declare the final dividend at the rate of 21 % of the admitted secured amount as mentioned column 4 in respect of each of the claimants in table referred to in paragraph no.2 besides the proportional amount of interest accrued on the said amount of Rs.2,40,00,000/- from 12.02.2020 to till date of disbursement and will issue cheques for the said amount in respect of the said claimants within one month from the date of this order. (ii) Keeping in view the fact that the number of creditors is only six, the compliance of Rule 290 of the Companies (Court) Rules 1959 (official Liquidator’s Dividend Account) is waived. (iii) This Court being satisfied that the affairs of the company M/s Nalanda Ceramics and Industries Ltd. will be completely wound up upon clearance of the dividend cheques to be issued by the Official Liquidator in terms of the order passed by this Court today, it is ordered that M/s. Nalanda Ceramics and Industries Ltd. shall be deemed to be dissolved from the date when the last of the cheques issued by the Official Liquidator to the said claimants mentioned in the table above in this order is cleared from the Bank and the said company namely M/s. Nalanda Ceramics and Industries Ltd. shall stand dissolved accordingly. 7. 7. The official liquidator upon the clearance of the last cheque issued by him to the secured creditors, is directed to forward to the Registrar of the Companies a copy of this order and appending his certificate that the last cheque of the final dividend has been cleared by the bank and the Registrar upon receipt of the copy of this order along with the certificate of the official liquidator to the effect that the last cheque of the final dividend has been cleared by the bank, is directed to make in his book a minutes of the dissolution of the said company. 8. Mr. Himanshu Kr. Mehta, learned counsel appearing for the official liquidator submits that he will download a copy of this order from the website of the Court and will self certify the same which will be treated as a copy of this order being supplied to him and the Official Liquidator can do the needful in compliance of the same. 9. These petitions are disposed of accordingly and consequently all Interlocutory Applications in these petitions stand disposed of.