2006 (12) TMI 222 - HC - Companies Law

Summary

Issues:
- Application under sections 446, 454, 468, 633(2) of the Companies Act, 1956 seeking various reliefs related to winding up of a company and transfer of criminal cases.

Analysis:
1. Relief for Delivery of Records and Books of Account:
The applicants sought an order for the concerned police station to deliver all records and books of account of the company ordered to be wound up to the Official Liquidator. This request was made to enable the preparation and filing of the statement of affairs as required under the Companies Act, 1956. The applicants also requested permission to inspect and compile the records. The court considered these requests in the context of the company's operations and the need for accurate financial information for the winding-up process.

2. Transfer of Criminal Cases:
The applicants further requested that all criminal cases and investigations against them be transferred to the High Court for trial, given that the company had been ordered to be wound up. This request was made to consolidate the legal proceedings and avoid facing trials in different locations. The court evaluated this request in light of the interests of justice and the practical implications of transferring criminal cases.

3. Dispensation of Statement of Affairs Requirement:
Due to the unavailability of records and books of account held by the police authorities, the applicants asked for dispensation from the requirement of preparing and filing the statement of affairs with the Official Liquidator until they could inspect the records. This request was made to facilitate a more accurate and comprehensive statement of affairs. The court examined the necessity of this dispensation in the context of the winding-up process and the obligations under the Companies Act, 1956.

4. Opposition by Official Liquidator:
The Official Liquidator opposed the applicants' requests, arguing that the scope of section 633 of the Companies Act, 1956 was limited and should not be extended to unduly benefit the applicants. The court considered this opposition in the context of the legal provisions and the responsibilities of the Official Liquidator in the winding-up process.

5. Judgment and Dismissal of Application:
After careful consideration of the submissions and the legal precedents, the court dismissed the application as it was deemed devoid of merit. The court highlighted that seeking anticipatory bail under section 633 was not applicable for liabilities under the Indian Penal Code. The judgment emphasized the limitations of section 633 and its inapplicability to liabilities under other Acts. The applicants were not granted any relief, and the application was dismissed without costs.

This detailed analysis of the judgment provides insights into the legal considerations surrounding the winding up of a company, transfer of criminal cases, and the obligations of the Official Liquidator under the Companies Act, 1956.