9911796707
TMI Blog2006 (5) TMI 200X X X X Extracts X X X X X X X X Extracts X X X X ..... the winding-up of the company under section 433( a ) of the Companies Act, the Company is ordered to be wound-up. The Official Liquidator shall take charge of all the properties and effects of the Company forthwith. He shall cause a sealed copy of this order to be served on the Company by pre-paid registered post. The petitioner shall advertise within fourteen days from this day a notice in the prescribed form of the making of this order in one issue (each) of Dainik Bhaskar (Jaipur Edition) and the Hindustan Times (Delhi Edition). The petitioner shall serve a certified copy of the order on the Registrar of Companies not later than one month from this date." 2. The notices of winding-up were published in the Extraordinary Gazette d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riod and have become time-barred under the Limitation Act. The stock-in-trade consisting of stone slabs was not having any realisable value. Due to aforesaid reasons the Preliminary Report was not submitted before the Hon ble Court. 5. That keeping in view of non-realisable assets with the Company in liquidation the Official Liquidator did not sought any power under section 457 of the Companies Act, 1956 from the Hon ble Rajasthan High Court. 6. That the Official Liquidator deputed one of his officials to inspect the documents, files maintained by the Registrar of Companies, Rajasthan, Jaipur and had made a request with them to arrange a copy of the latest audited balance sheet of the Company (In liquidation). It is revealed that the la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t made any comments under section 619(4) of the Companies Act, 1956. A copy of the letter issued by the Accountant General (Audit)-II, Government of India, Rajasthan, Jaipur is submitted herewith for kind perusal of the Hon ble Court and is marked as Annexure B to this application. 9. That the Official Liquidator vide letter No. RSTD/161, dated 28-8-2002, has informed to the office of the Comptroller and Auditor General of India, Government of India, New Delhi, that no account books and records in respect of the company (in liquidation) have been handed over by the Ex-Directors to this office till date to take this fact on their record. 10. That from the scrutiny of statement of affairs filed under section 454 of the Companies Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... secured creditors are more than two decades old including the dues payable to R.S.M.D.C. Limited a holding company, to whom Rs. 55,436 (Rupees fifty five thousand four hundred thirty six only) is payable which have been stated to have been written off by the holding company in their books of account in the past. 13. That the paid-up capital of the company as on the winding-up date is Rs. 19,00,070 (Rupees nineteen lakhs seventy only) and is comprised of equity shares of Rs. 10 (rupees ten only) each and has been entirely held by the R.S.M.D.C. Limited (Holding Company) and through its nominee. 14. That the unsecured loans from R.F.C. shown at Rs. 21,01,334 (Rupees twenty one lakhs one thousand three hundred thirty four only) in the unau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idator to pay the dues of the decree-holder. It is also submitted that there are no assets in the Company in-liquidation for realisation. 16. That as per list H annexed to Statement of Affairs, the deficiency as on winding-up date 16th August, is at Rs. 52,27,851 (Rupees fifty two lakhs twenty seven thousand eight hundred fifty one only) as against the equity share capital of Rs. 19,00,070 (Rupees nineteen lakhs seventy only). 17. That on 18-8-2000, the Ex-Director Shri A.K. Ahluwalia vide his letter No. Misc/2000-2001, dated 1-8-2000 informed to the Official Liquidator that following persons were the Directors of the Company in liquidation as on its date of winding-up order i.e., 16-8-1999: 1.Smt. Sarita Singh, Executive Direc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he P.D. Account with the Punjab National Bank, Jaipur. 20. That on the basis of the statement of affairs and further on the basis of facts available on records, informations and funds position of the company (in liquidation) it could be seen that the Official Liquidator cannot proceed with the winding-up as there are no assets in the Company except a petty sum of Rs. 462 with the Official Liquidator. Further, there is also no chance for any recovery from any of the sundry debtors and loans and advances to parties as according to the Ex-Directors of the Company, there is nothing realisable. Therefore, in these circumstances no amount will be available in future for making payment to the creditors and contributors and with Rs. 462 lying in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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