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TMI Blog2012 (10) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... ssolved under Section 481 of the Companies Act. The Official Liquidator is also permitted to transfer the balance fund available in the Company’s account to the Reserve Bank of India after creating provision or making payment towards the government fee, audit fee and liquidation expenses. The Official Liquidator is permitted to close the books of account of the company with the copy of this order communicated to the ROC within 30 days by the Official Liquidator. - CO.PET. 334/2003 - - - Dated:- 25-9-2012 - MS. INDERMEET KAUR J. Petitioner Through Mr. Sajeev Sagar, Adv. Respondent Through Mr. Rajiv Bahl, Adv. for the Official Liquidator. Mr. Sanjeev Narula with Mr. Deepak Sharma, Adv. for the respondent. INDERMEET KAUR, J. (O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . There were two directors of the Company, namely, Mr. Charan Shah Kohli and Mr. Sanjay Kohli; notices were issued to the ex. Directors under Rule 130 of the Companies Court Rules, under Section 454(5) of the Companies Act and Sections 468/477 of the Companies Act; the statement of Mr. Sanjay Kohli, ex. Director was recorded under Rule 130 on 31.08.2005; Mr. Sanjay Kohli had filed statement of affairs which was defective; Mr. Charan Shah Kohli had expired on 09.01.2009; ex. Director of the Company filed revised unaudited Balance Sheet in compliance of the order dated 17.02.2011 showing debtors for Rs. 67,200/-, Security Deposit for Rs. 2,000/- and Secured Creditors for Rs. 8,50, 346/-. 3. Directors were given directions to furnish their c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g-up process. 7. In view of the above decision of the Supreme Court and the facts and circumstances of this case, the liquidation proceedings deserve to be brought to an end. Consequently, M/s Crown Sales (I) Pvt. Ltd. is dissolved under Section 481 of the Companies Act. The Official Liquidator is also permitted to transfer the balance fund available in the Company s account to the Reserve Bank of India after creating provision or making payment towards the government fee, audit fee and liquidation expenses. The Official Liquidator is permitted to close the books of account of the company. A copy of this order shall be communicated to the Registrar of Companies within 30 days by the Official Liquidator. The C.A. No. 2197/2011 as also the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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