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TMI Blog2018 (2) TMI 1190X X X X Extracts X X X X X X X X Extracts X X X X ..... company. Where no response has been made to the statutory notice, the respondentcompany runs a risk of winding up petition being allowed. By virtue of Section 434 of the Companies Act 1956 a presumption of the indebtedness can be legitimately drawn by the court where no reply to the statutory notice is forthcoming. Thus having heard petitioner and having considered the petition alongwith the documents annexed to the petition, it is satisfied that the company is indebted to petitioner, is unable to discharge its debts, is commercially insolvent and requires to be wound up. - Company Petition No.382 OF 2015 - - - Dated:- 12-1-2018 - MR. K. R. SHRIRAM, J. For The Petitioner : Mr. Astad Randeria a/w. Ms. Anagha Mhatre i/b. Khimani and Associates For The Petitioner : None ORDER P.C.: 1 This petition is filed for winding up of respondent company Metro Mumbai Infradeveloper Pvt. Ltd. on the ground that respondent is indebted to petitioner, is unable to discharge its debts and is commercially insolvent. 2 Petitioner is engaged in the business of publishing and managing advertisements on BEST TV LED screens in the BEST buses (BEST TV) running in Mumb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies Act, 1956. 5 On record there is an affidavit of one Pradeep Kargutkar affirmed on 27th September, 2016 confirming advertising the petition in Free Press Journal (in English) and Navshakti (in Marathi) and also in the Maharashtra Government Gazette. There is a service report dated 31st August, 2016 filed by the Company Department stating that the notice sent under Rule 28 of the Companies Court (Rules), 1959 has been returned with the endorsement left . Mr. Randeria, counsel for petitioner states that the recent MCA website extract indicates the status of the company as Strike Off . At the same time, Mr. Randeria also points out that the registered address shown in the Company Master Data is the same address to which notice under Rule 28 has been sent and that is the same address which reflected even in the cause title to which statutory notice was also sent. As notice under Rule 28 has been sent to the registered address, which appears in the Company Master Data, I am inclined to accept the notice under Rule 28 has been effectively served. 6 The next question to be considered is whether the company, which is struck off the register, can be wound up. Mr. Randeria t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y stands dissolved under section 248, it shall on and from the date mentioned in the notice under subsection (5) of that section cease to operate as a company and the Certificate of Incorporation issued to it shall be deemed to have been cancelled from such date except for the purpose of realising the amount due to the company and for the payment or discharge of the liabilities or obligations of the company. 8 Though it is not clear the reason why the company's name was struck off, Section 248 (1) empowers the Registrar to remove the name of company from the register of Companies but before he does that he shall send a notice to the company and all the directors of the company, of his intention to remove the name of the company from the register of companies and requesting them to send their representations along with copies of the relevant documents, if any, within a period of thirty days from the date of the notice. At the expiry of the time mentioned in the notice, the Registrar may, unless cause to the contrary is shown by the company, strike off its name from the register of companies, and shall publish notice thereof in the Official Gazette, and on the publication in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e where a company is being wound up, the Registrar has reasonable cause to believe either that no liquidator is acting, or that the affairs of the company have been completely wound up, and any returns required to be made by the liquidator have not been made for a period of six consecutive months, the Registrar shall publish in the Official Gazette and send to the company or the liquidator, if any, a like notice as is provided in subsection (3). ( 5) At the expiry of the time mentioned in the notice referred to in subsection (3) or (4), the Registrar may, unless cause to the contrary is previously shown by the company, strike its name off the register, and shall publish notice thereof in the Official Gazette; and on the publication in the Official Gazette of this notice, the company shall stand dissolved: Provided that ( a) the liability, if any, of every director, the managing agent, secretaries and treasurers, manager or other officer who was exercising any power of management, and of every member of the company, shall continue and may be enforced as if the company had not been dissolved; and ( b) nothing in this subsection shall affect the power of the Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
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