Form No. 153 - Instructions regarding the preparation of the statement of account - Company Court Rules, 1959

Form No. 153 (See rule 327) Instructions regarding the preparation of the statement of account The following general instructions shall be observed in preparing the statements of accounts to be filed by a Liquidator in a voluntary winding-up under section 551: 1. The statement should be a detailed account of all the liquidator's realisations and disbursements in respect of the company. Under realisations should be entered all receipts derived from assets existing at the commencement of the winding-up and subsequently realised, including balance in Bank, book Debts and Calls collected, Property sold, etc., and under disbursements should be entered all payments for costs and charges, or to creditors and contributories. Where property has been realised, the gross proceeds of sale must be entered under realisations, and the necessary payments incidental to sales must be entered as disbursements. The statements should not contain payments into or out of the Bank (which should be shown by the Bank pass book), nor the temporary investments by the Liquidator or the proceeds of such investments when realised, which should be shown separately, by a separate detailed statement of moneys invested by the Liquidator and the investments realised. Interest allowed or charged by the Bank, bank commission, etc., and profit or loss upon the realisation of temporary investments should, however, be inserted in the accounts of realisations or disbursements, as the case may be. Each receipt and payment must be entered in the account in such a manner as sufficiently to explain its nature. The receipts and payments must severally be added up at the foot of each sheet, and the totals carried forward, from one account to another within any intermediate balance, so that the gross total shall represent the total amounts received and paid by the Liquidator respectively. 2. Where the Liquidator carries on a business, a Trading Account must be furnished as a distinct account, and only the totals of receipts and payments on the Trading Account must be brought into the statement. 3 When dividends or instalments of composition are paid to creditors, or a return of surplus assets is made to contributories, the total amount of each dividend, or instalment of composition, or return to contributories, actually paid, must be entered in the statement of disbursements as one sum; and the Liquidator must furnish separate accounts of showing in lists the amount of the claim of each creditor and the amount of dividend or composition payable to each creditor, and of surplus assets payable to each contributory, distinguishing in each list the dividends and instalments of composition and shares of surplus assets actually paid and those remaining unpaid. 4. When unclaimed dividends, instalments of composition or return of surplus assets are paid into the Companies Liquidation Account, the total amount so paid should be entered in the statement of disbursements as one sum. Liquidator's Account Exhibit 'A' (to be filled in duplicate) This is the Exhibit marked 'A' referred to in the affidavit of ........... solemnly affirmed before me this ........ day of . ....... 19 ........ 1. Name of Company 2. Nature of proceeding* 3. Date of commencement of winding-up 4. Date to which statement is brought down 5. Name and address of liquidator Commissioner Liquidator's statement of account pursuant to section 551 of the Companies Act, 1956 Liquidator's account from ........... to ........... Realisations Disbursements Date Of whom received Nature of assets realised Amount Date To whom paid Nature of disburseements Amounts 1 2 3 Rs. P. 4 1 2 3 Rs. P. 4 Brought forward -------- Brought forward --------------- Total carried over ----------- Total carried over ------------ Note. No balance should be shown on this account, but only the total realisations and disbursements, which should be carried forward to the next account. Analysis of Balance Total realisations Rs. P. Total disbursements Balance The balance is made up as follows: Rs. P. 1. Cash in the hands of the liquidator Rs. P. 2. Total payments into bank, including balance at date of commencement of winding-up (as per Bank pass book) Less total withdrawals from Bank Balance at Bank Rs. P. 13. Amounts invested by the Liquidator Less Rs. P. Amounts received by realisation of investment Deduct profit or add loss on realisation of investment (carried into the account) Balance under investment Total balance as shown above * Here state whether it is winding-up under supervision of Court, or a members or creditors voluntary winding-up. If it is a winding-up under the supervision of the Court, the number of the petition or other proceeding in which the order was made and the date of the order should also be given. 1 Note. Full details of investments made and realisations thereof should be given in a separate statement. Annexures to the Account Annexure I Statement as to the position of the liquidation as on ................ (the date to which the statement is brought down) 1. Assets: Rs. P. ( a ) Assets not specifically pledged: Total amount of the estimated assets at the date date of the commencement of the winding-up Assets realised Estimated value of assets still to be realised ( b ) Assets specifically pledged: Book Value Rs. P. Value realized Rs.P. Due to secured creditors Rs. P. Surplus (+) Deficiency (-) Rs.P. (1) Immovable property (2) Goods not in possession (3) Goods in possession (4) Other property Surplus or deficiency from assets specifically pledged 2. Liabilities: Total amount Amount paid Amount outstanding Rs. P. Rs. P. Rs. P. (1) Secured creditors (2) Preferential creditors (3) Debenture holders secured by a floating charge (4) Unsecured creditors 3. (a) Total amount of capital paid up at the date of commencement of winding-up Paid up in cash Rs. P. Issued as paid otherwise than in cash (b) Calls (if any) made by the Liquidator: (1) Date of call (2) Rate of call (3) Total amount of call (4) Total amount realised on call 4. General description and estimated value of the outstandings still to be realised (if any). 5. Causes which delay the termination of the winding-up. 6. Period within which the winding-up may probably be concluded: 7. Legal proceedings (if any), instituted, pending or concluded during the period: Name of Court and number of proceeding Names of parties and their advocates Nature of proceeding State of proceeding Nature of decree or order made, if any Remarks 1 2 3 4 5 6 (If any actions or other proceedings are delaying the close of the liquidation, state shortly the nature and probable duration thereof. State also other circumstances tending to delay the winding-up of the company, affecting the realised value of the property or the costs of realisation). Annexure II Liquidator's Trading Account Liquidator of the above company in account with the estate Dr. Cr. Receipts Payments Date Particulars Rs. P. Date Particulars Rs. P. Total Total Annexure III List of dividends or Composition I hereby certify that a dividend (or composition), of ............... Paise in the rupee was declared payable on or after the .............. day of .............. 19 .........., and that the creditors whose names are set forth below are entitled to the amounts set opposite their respective names, and have been paid such amounts except in the cases specified as unclaimed. Dated the .............. day of .............. 19 .......... (Sd.) .............. Liquidator Number on list name of creditor Amount of claim (as admitted) Paid Amount of dividend or composition Paid Unclaimed Rs. P. Rs. P. Rs. P. 1 2 3 4 5 Total Annexure IV List of amounts paid or payable to contributories Name of Company ................... (in liquidation) I hereby certify that a return of surplus assets was declared payable to contributories on or after the ................... day of ................... 19 ......., at the rate of ................... per share, and that the contributories whose names are set forth below are entitled to the amounts set opposite their respective names, and have been paid such amounts except in the cases specified as unclaimed. Dated the ................... day of ................... 19 ......... (Sd.) ................... Liquidator Amount returned on shares Number on list Name of contributory Number of shares Paid Unclaimed Rs. P. Rs. P. 1 2 3 4 5 Total Annexure-V Statement of unclaimed dividends and undistributed assets paid into the Companies Liquidation account in the Reserve Bank of India during the period ................... Serial number Name and address of creditor or contributory Amount of dividend or undistributed assets payable or refundable Date when payable or refundable to creditor or contributory Date of payment into Companies Liquidation Account Remarks 1 2 3 4 5 6 Dated this ................ day of .................... 19 ....... (Sd.) ............. Liquidator