2018 (11) TMI 1728 - HC - Companies Law

Recall of winding up order - recall of admission order and withdrawal of the petition - HELD THAT - The order of winding up and admission stand recalled. Official Liquidator stands discharged. Petition also stands disposed with liberty to petitioner to approach this Court for revival of the petition in case of default, apart from the liberty granted by this Court in the order dated 17th October 2018. Company application (lodging) no.567 of 2018 also stands disposed. Company to pay a sum of ₹ 50,000/ as costs to Official Liquidator who shall utilise the same for office administrative expenses. The costs to be paid within three weeks from today.

Summary

Issues:
Recall of winding up order, recall of admission order, withdrawal of the petition, costs to be paid to Official Liquidator.

Recall of Winding Up Order:
The counsel for the applicant informed the court that following the order dated 17th October 2018, the applicant had advertised in Free Press Journal and Navshakti regarding the settlement and recall of the winding up order, admission order, and withdrawal of the petition on 19th October 2018. An affidavit affirmed by Firoz Khan on 1st November 2018 was submitted in support of this. No objections or claims were received in response to the notice, as confirmed by the Company Registrar upon inquiry. Consequently, the court ordered the recall of the winding up and admission orders, discharging the Official Liquidator. The petition was disposed of with the liberty for the petitioner to approach the court for revival in case of default, in addition to the liberty granted in the previous order.

Costs to be Paid to Official Liquidator:
As part of the judgment, the court directed the company to pay a sum of ?50,000 as costs to the Official Liquidator. This amount was designated for office administrative expenses. The court stipulated that the costs should be paid within three weeks from the date of the judgment. The Company application (lodging) no.567 of 2018 was also disposed of as part of this comprehensive resolution.

This detailed judgment by the Bombay High Court addressed the issues of recalling the winding up order, admission order, and withdrawal of the petition. The court's decision was based on the lack of objections or claims received after the notice was advertised, leading to the discharge of the Official Liquidator and the disposal of the petition with specific liberties granted to the petitioner. Additionally, the court ordered the company to pay costs to the Official Liquidator for office administrative expenses within a specified timeframe.