9911796707
TMI Blog2018 (2) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... es under Rule 291 of Companies (Court) Rules 1959. 2. Para 6 to 9, 15,16 and 17 read as under: 6) That, the Official Liquidator most respectfully submits that the Hon'ble High Court of Gujarat vide order dated 04.09.2003 passed in OLR No.55 of 2003 has confirmed sale of movables including plant & machineries, furniture and fixtures of the company in favour of Shri J.K. Waghela for Rs. 18,25,000/-. On receiving full sale consideration, the possession of the movables including plant & machineries, furniture and fixtures of the company has been handed over to the purchaser Shri J.K. Waghela on 31.12.2003. The possession of land has been handed over to original owner of the land namely M/s. Gita Timber Mart, Ahmedabad on 29.01.2009 in terms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bout inviting claims from various classes of creditors does not arise. Looking at the totality of the circumstances, the Official Liquidator is of the opinion that it is, therefore just and proper case to dissolve the aforesaid Company in the interest of justice as well as in the interest of shareholders of Company in Liquidation. After making provisions for payment of Rs. 1,500/- to Chartered Accountant and rest of fund of Rs. 11,301/- is required to be transferred to Company Paid Staff Salary Reserve Fund Account for Central Government Fees under Rule 291 of the Companies (Court) Rules, 1959 and other liquidation expenses. 15) That, as per the Books of Accounts maintained by the Office of the Official Liquidator, the fund position of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equired to be done further hereafter. That, the subject company may be dissolve under Section 481 of the Companies Act, 1956 in the interest of Justice as per Law. 3. Learned advocate Mr. Pathik M. Acharya for the Official Liquidator submitted that the company in liquidation is left with no assets and properties and as stated in report, the company has balance only of Rs. 12,801/- as on 30.09.2017. As certified by the Charted Accountant and therefore the Official Liquidator shall now not be required to discharge any function for winding up of the company. 4. The Court, having heard learned advocate Mr. Acharya and having considered the contents of the report with the report of the Charted Accountant at Annexure D, finds that there are no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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