2009 (12) TMI 505

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..... liquidation) ceased to carry on business in 1982 and assets were disposed of in the year 1995-96 to pay the liabilities of the banks and financial institutions and at present, there does not appear to be any liability either of the banks or the financial institutions. This fact is also borne out from the statement of affairs filed by the ex-director under section 454 of the Companies Act, 1956. .....

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..... d out that the statement of affairs was got prepared through M/s. R.N. Mishra and Company, chartered accountant, for which he has raised a bill of Rs. 12,000. It is stated that the ex-management has deposited a sum of Rs. 7,000 and Rs. 5,000 totalling Rs. 12,000 with the Official Liquidator for meeting the expenses. 4. Permission is, accordingly, being sought for making payment of the sum of R .....

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..... of affairs as required under section 454 of the Companies Act, 1956. 8. The preliminary report filed by the Official Liquidator along with O.L.R. No. 33 of 2009 is taken on record and the settlement of list of creditors is dispensed with. The preparation and audit of the final accounts is also dispensed with. 9. This Court is of the view that it is not possible for the Official Liquidator .....

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