9911796707
TMI Blog1978 (5) TMI 101X X X X Extracts X X X X X X X X Extracts X X X X ..... all criminal proceedings mentioned in para. 17 of the petition and an injunction restraining the Registrar of Companies, respondent No. 1, from instituting further criminal proceedings against the petitioner as a liquidator of the company. It appears that the present application is made under various sections of the Companies Act including sections 515 and 633 of the Companies Act. The company, by a resolution dated 6th September, 1971, was wound up voluntarily nominating the petitioner as the liquidator of the said company for the purpose of winding up on a remuneration of Rs. 2,000. The petitioner received the copy of the said resolution and a sum of Rs. 400 as part payment of the resolution on the 7th September, 1971. It appears that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ame to the Registrar, Immediately thereafter, the respondent No. 1 started seven criminal cases between 8th January to 17th January against the petitioner under section 551(5) of the Companies Act. The petitioner, thereafter, on or about 10th May, 1978, filed this application and on the 12th May an ad interim injunction in terms of prayer ( d ) was issued. Mr. R.K. Lala, appearing with Mr. U.P. Mukherji for the petitioner, submitted, after placing the facts before me, that he should be relieved from the office of the liquidator and either the official liquidator or any other person should be appointed. He submitted that in the facts and circumstances of the case he was induced to become the liquidator as he was connected with the firm of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent No. 4, Dinomoni Shah Deo, should be appointed as official liquidators in place and stead of the petitioner. At this stage, Mr. A. C. Law was appearing for them but has not filed any affidavit but he had instructions only to watch the proceedings. At this stage Mr. Law, on behalf of his said two clients, took leave to file affidavits and leave was also given to the petitioner to file the affidavit-in-reply in the presence of the Registrar of Companies being respondent No. 1 who was also given leave to file further affidavit. Pursuant to the said leave affidavits were filed and Mr. Law appeared. He submitted that the company is deemed to have been wound up as soon as the resolution was passed in view of section 486 of the Companies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive and diligent in discharging his duties as a liquidator but, unfortunately for him, he could not do so for the circumstances beyond his control and which could not be foreseen by him under any circumstance. Further, it appears that he has not been handed over the books papers and documents of the company by the respondents, the ex-directors of the company, and, therefore, he could not act in the matter promptly as he could have done. In these circumstances, it appears that there are good grounds for him to be relieved of the consequences of his default, negligence and breach of duty as a liquidator but having regard to the fact that this court has no jurisdiction under section 633(1) of the Companies Act to relieve him of the said conse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r such appointment. Now, the question is that the remuneration of the liquidator should be fixed by the court and that shall be credited to the Central Government under section 515(4) of the Companies Act. In the result, I am making the following order: There will be an order in terms of prayer ( a ). The official liquidator be appointed as a liquidator of the company in place and stead of the petitioner who is removed as a liquidator of the company. The petitioner and the respondents Nos. 3 and 4, Jagat Bhusan Garg and Dinomoni Shah Deo, are hereby directed to make over possession of all books, papers and documents and information relating to the company to the official liquidator forthwith. The official liquidator to be paid a fixed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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