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TMI Blog2018 (2) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... tor is required to incur expenses for the purpose of making present report seeking dissolution of the company in terms of Section 497 of the Act, the directors of the company are required to be directed to pay ₹ 10,000/- being office expenses to the Official Liquidator. The company is ordered to be dissolved in terms of Section 497 of the Act from the date of submission of the report. The Voluntary Liquidator – M/s.J. H. Mehta and Company, Chartered Accountant is directed to preserve the Books of Accounts of the company for a period of five years from the date of dissolution of the company. - Official Liqudator Report No. 13 of 2018 - - - Dated:- 30-1-2018 - MR. C. L. SONI, J. For The Applicant : Ms Reeta Chandarana, Advoca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany, Chartered Accountant as Voluntary Liquidator. ( 3) Paras-4 to 11 of the present report read as under: 4. That, the Board of Directors of the Company submitted the Declaration of Solvency and affidavit dated 25.11.2015 under section 488 of Companies Act, 1956 in form No.149 as prescribed under Rule 313 of the Companies (Court) Rules, 1959 along with affidavit dated 25.11.2015 wherein it was stated that company is solvent company and it has no debt. A copy of Declaration of solvency and affidavit dated 25.11.2015 and form GNL-2 filed with ROC are annexed hereto and marked as Annexure C (colly). 5. That, the Voluntary Liquidators have given notice under rule 315 of the Companies (Court) Rules, 1959 and filed Form No.152 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. Legal Charges 37,500/- Liquidator s Remuneration 34,350/- Cost of Notices in Newspaper and Gazette 10,070/- Incidental outlay charges and other expenses 10,318/- Creditors 5,000/- Return to Equity Shareholders 13,81,744/- Total 14,78,982/- Surplus (Rs.) 498 8. That, the Voluntary Liquidator in pursuance of Section 497(2) of the Companies Act, 1956 has convened the final meeting of the members of the company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd other relevant provisions of the Companies Act, 1956 and Companies (Court) Rule, 1959, as applicable thereto have been made. That, having regard to all the facts and circumstances of the case, the affairs of the Company does not seem to have been conducted in a manner prejudicial to the interest of its members or to public interest. This Hon ble Court may be pleased to decide the Official Liquidator s Report on merits and be pleased to pass an order for dissolution of the above-named company and direct the Voluntary Liquidator to preserve the Books of Accounts for a period of 5 years from the date of dissolution of the company in terms of Section 497(6) of the Companies Act, 1956. ( 4) Learned advocate Ms.Chandarana for the Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act appear to have been complied with and when the affairs of the company are stated not to have been conducted in a manner prejudicial to the company, its members, as also to the public interest, the company could be ordered to be dissolved in terms of Section 497 of the Act. However, while ordering dissolution of the company under Section 497 of the Act, the Voluntary Liquidator is required to be directed to preserve the Books of Accounts of the company for a period of five years from the date of dissolution of the company. As the Official Liquidator is required to incur expenses for the purpose of making present report seeking dissolution of the company in terms of Section 497 of the Act, the directors of the company are required to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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