Where -
(a) an individual is the holder of a licence and is adjudicated bankrupt,
(b) a partnership is the holder of a licence and each of the partners thereof is adjudicated bankrupt,
(c) a partnership is the holder of a licence and the partnership is dissolved by the bankruptcy of any partner and the licence is revoked, or
(d) a company is the holder of a licence, is insolvent and is being wound up,
the following provisions shall have effect:
(i) in the case of the individual or partnership, the amount deposited by him or it with the Bank under section 7 of this Act together with any interest accrued thereon shall vest in the Official Assignee,
(ii) in the case of the company -
(I) in case the Official Assignee is the liquidator of the company, the amount deposited by it under the said section 7 together with any interest accrued thereon shall vest in the Official Assignee, and
(II) in any other case, the Court may, on the application of the liquidator of the company, order that