9911796707
TMI Blog1978 (5) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... as deposited in the company's account as undistributed amount. After the affairs of the company were fully wound up, it is said that an account showing how the winding-up was conducted was prepared by the liquidation whereafter the final general meeting of the company (in liquidation) was called for the purpose of laying the account before it and explaining the same to it as provided under section 497 of the Companies Act, 1-956 (hereinafter called "the Act"). The notice convening the meeting was published in the local newspaper Matrubhumi on October 12, 1972, and the meeting was held on October 14, 1972. In the meeting thus held, the statement of accounts prepared by the liquidator was discussed and adopted by a resolution passed in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter filing the petition and after notice to the Registrar as well as the official liquidator, both of them have entered appearance and filed their respective counter. The contentions raised by the opposite parties are that the petitioner not having complied with the statutory requirements of section 497 of the Act while convening the final general meeting, that the notice of the meeting not having been drawn up in Form No. 155 as prescribed by rule 329 of the Rules that a copy of the resolution passed in the final general meeting held on October 14, 1972 not having been filed before the Registrar along with the final statement of accounts, that the final statement in Forms Nos. 156 and 157 not having been filed before the Registrar withi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n officer of the company is an inclusive, one, and, therefore, merely because a liquidator of the company has not been included within section 2(30) of the Act, it cannot be said that he is not an officer of a company even though he fulfils all the requirements of an officer. The question as to whether a liquidator of a company is an officer of the company came up for consideration in the decision reported in [1978] 48 Comp. Cas. 120 (Guj.) ( Official Liquidators, Baroda Batteries Ltd. v. Registrar of Companies ) . It had been clearly laid down in that decision that a liquidator, while dealing with the liquidation proceedings, represents the company, which does not lose its identity as a company till it is dissolved. The liquidator alon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roceedings. The omissions pointed out by the opposite parties, according to Mr. Sinha, are due to ignorance of the relevant provisions of the Act and the Rules and are not deliberate and have not been actuated by any mala fide intention. A sum of Rs. 21,129.26 has been deposited by the petitioner as undistributed amount to the credit of the company. The entire dues of all the creditors have been paid off and the shareholders have been paid up to 68% of their share capital. It is not disputed that notice of the final general meeting has not been published as provided in section 497 of the Act and the returns and the final account together with a copy of the resolution passed in the final general meeting have not been sent to the Registrar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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