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TMI Blog2018 (2) TMI 1192X X X X Extracts X X X X X X X X Extracts X X X X ..... Court to the office of the Official Liquidator. [2] Paragraphs no.2 to 13 read as under: 2. That, the Board of Directors of the Company have submitted a copy of Declaration of Solvency dated 22.03.2003 under section 488 of the Companies Act, 1956 to this office in Form No.149 as prescribed under Rule 313 of the Companies (Court) Rules, 1959 wherein it was declared that the company will able to pay its debts within a period of three years from the commencement of winding up. A copy of Form No.149 dated 22.03.2003 is annexed hereto and marked as Annexure "B". 3. That, at the Extra Ordinary General Meeting of the Company held on 31.03.2003, a Special Resolution was passed, stating that the company be wound up voluntarily, pursuant to the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 331 of the Companies (Court) Rules, 1959, respectively, for the period from 31.03.2003 to 15.03.2004 (i.e. winding up process of the Company). A copy of the same to this office. Copy of Form Nos.156 and 157 are submitted herewith and marked as Annexure "F" (Colly.). 7. That, the Official Liquidator submits that the position of the assets and liabilities of the company as on 15.03.2004 are as under. Estimated Assets Estimated Value (Rs.) Value Realized (Rs.) Balance at Bank - 2,06,608/- Cash in Hand - 2/- TOTAL (Rs.) 2,06,610/- Payments: Cost of notice in newspaper and official Gazette 4,460/- Payments to redeem securities cost of execution as per trading account. 19,150/- Returns to Contribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany and its Directors stated that, if any, demand occurs in future they have agreed to pay/indemnify for the same and further stated that Director of the company expired on 27.11.2017. Copy of affidavit dated 27.11.2017 is annexed hereto and marked as Annexure "I". 12. That, the office of Registrar of Companies, Ahmedabad Gujarat for Issuance of "No Objection Certificate" in the matter of M/s.Vari Investments Private Limited (In Vol.Liqn.), vide letter dated 10.06.2004. A copy of NOC received from ROC is enclosed herewith and marked as Annexure "J". 13. That, upon scrutiny of the records submitted by the Voluntary Liquidator, it is seen that necessary compliance of section 497 and other relevant provisions of the Companies Act, 195 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent report for dissolution of the company and also direct them to preserve books of accounts of the company for five years. [4] The Court, having heard learned advocate for the Official Liquidator and having considered the contents of the present report with the documents annexed with the report and also having considered that there appears to be proper compliance of the provisions of Section 497 of the Act, finds that the prayers sought for in the present report could be granted. [5] In view of above, the company is ordered to be dissolved in terms of Section 497 of the Act. The Ex-directors of the company are directed to pay Rs. 10,000/- being expenses relating to filing of the present report to the office of the Official Liquidator wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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