Form No. 150 - Form of statement of assets and liabilities - Company Court Rules, 1959

Form No. 150 (See rule 314) Form of statement of assets and liabilities [To be submitted to a meeting of creditors pursuant to section 495(1) by the Liquidator in a Member's Voluntary Winding-up if he is of the opinion that the company will be unable to pay its debts in full within the period stated in the declaration of solvency, viz ................. months from the commencement of the winding-up or if the period has expired without the debts having been paid in full.] Name of Company ................. Ltd. in liquidation. Date of commencement ................. of winding-up. Statement as at ................. 19 ......, showing assets at estimated realisable values and liabilities expected to rank. Assets Book values Rs. Estimated realizable values Rs. 1. Assets not specifically pledged: (1) Balance at Bank (2) Cash in hand (3) Marketable Securities (4) Bills Receivable (5) Trade Debtors (6) Loans Advances (7) Unpaid Calls (8) Stock-in-Trade (9) Work in progress viz., .................................. .................................. (10) Freehold property (11) Leasehold property (12) Plant Machinery (13) Furniture, Fittings, Utensils, etc. (14) Patents, Trade Marks, etc. (15) Investments other than marketable Securities (16) Other property viz., .................................. .................................. Total estimated realisable value of assets not specifically pledged 2. Assets specifically pledged (a) Estimated realisable values Rs. (b) Due to secured creditors Rs. (c) Deficiency ranking as unsecured Rs. Surplus carried to last column Rs. (1) Freehold property (2) Leasehold property (3) Movables (i) Goods in possession of the company (ii) Goods not in possession Total Estimated surplus from assets specifically pledged Estimated total assets available for preferential creditors, debenture holders secured by a floating charge, and unsecured creditors Summary of gross assets ( d ) Rs. Gross realisable value of assets specifically pledged Other assets Gross assets Rs. ( e ) Liabilities Gross liabilities Rs. (to be deducted from surplus or added to deficiency as the case may be) Secured creditors to the extent to which claims are estimated to be covered by assets specifically pledged [item ( a ) or ( b ) above whichever is the less] [Insert in 'Gross Liabilities' column only] Preferential creditors Estimated balance of assets available for debenture holders secured by a floating charge and unsecured creditors1 Debenture holders secured by a floating charge Estimated surplus/deficiency as regards debenture holders1 Rs. Unsecured Creditors: Rs. Estimated unsecured balance of claims of creditors partly secured on specific assets brought from ( c ) above Trade Accounts Bills Payable .................................... ................................... Outstandings expenses ................................ ................................. Contingent liabilities (state nature) Rs. Estimated surplus/deficiency as regards creditors being the difference between: Gross Assets, brought from preceding page ( d ) and Gross liabilities, as per column ( e ) Rs. Issued and Called-up capital ........ preference shares of ................ each ... called up ...... ........... ordinary shares of ................ each ................................. called up .............................................. Estimated surplus/deficiency as regards Members Rs. Liquidator's Remarks [In particular the liquidator should draw attention to any item where after taking his receipts and payments into account there is a substantial difference between his estimate and the directors; estimate in the statement annexed to the Declaration of Solvency.] 1 These figures must be read subject to the following notes: (1) (f) There is no unpaid capital liable to be called up or Strike out (g) The nominal amount of capital liable to be called up is (f) or (g) Rs. .......... estimated to produce Rs. .................. which is/is not charged in favour of debenture holders. (2) The estimates are subject to costs of the winding-up and to any surplus or deficiency on trading pending realisation of assets.