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TMI Blog2022 (4) TMI 1166X X X X Extracts X X X X X X X X Extracts X X X X ..... Liquidator. (b) The above named Company may kindly be ordered to be dissolved in terms of Section 497(6) of the Companies Act, 1956, from the date of submission of this report this Hon'ble Court and, to direct the Voluntary Liquidator to preserve the Books of Accounts of the Company (In members' Vol. Liqn.) for the period of 5 years from the date of dissolution of the Company in terms of resolution passed at the meeting held on 31.07.2020, after receipt of clarification from Voluntary Liquidator of the Company regarding realized value of free hold property as mentioned in Para 16 of this report. (c) That, the Official Liquidator most respectfully submits that the related office expenses of the office of Official Liquidator for submitti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e company in liquidation is incorporated under the provisions of the Companies Act, 1956, and is registered with the Registrar of Companies, Mumbai, State of Bombay on 15.09.1942 vide CIN U51909GJ1942PLC000168. The company in liquidation is having its authorised share capital of the company in liquidation is Rs. 25,00,000/- and paid up share capital is Rs. 10,00,000/-. 3.3.The Board of Directors of the Company submitted a copy of Declaration of Solvency dated 25.07.2014 under section 488 of the Companies Act, 1956 in Form No. 149 as prescribed under Rule 313 of the Companies (Court) Rules, 1959 wherein, it was declared that "We have made full inquiry in to the affairs of the company and that having done so we have formed an opinion that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he liabilities of the company in liquidation as on 15.06.2020 are as under: Assets: Estimated Assets Estimated Value (Rs) Value Realized (Rs) Cash in Bank 3,37,62,250/- 3,47,32,442/- Cash in Hand 52,361/- 52,361/- Loans & Advances 6,70,261/- - Free Hold Property 1,25,521/- - Investment other than Marketable Security viz., Gratuity Fund - 1,05,000/- Total 3,46,10,393/- 3,48,89,803/- Liabilities : Liquidator's Remuneration 50,000/- Cost of Notices in Newspaper and Gazette 43,202/- Other Expenses of Liquidation 42,66,950/- Payment to Unsecured Creditors 72,000/- Total 44,32,152/- Surplus (Rs.) (3,48,89,803-44,32,152) 3,04,57,651/- 3.8. In view of the above final Statement of Accounts of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oi, Bopal, Ahmedabad- 380058, Gujarat. 1 5. Mukesh Rampushottam Agarwal (Nominee of Pine Spring Organizers LLP) (Now known as HN Safal Realtech LLP) 20, Basant Bahar Bungalows, Nr. Purshottam Nagar Bust Stop, Daskroi, Bopal, Ahmedabad- 380058, Gujarat. 6. Sandip Rampushottam Agarwal (Nominee of Pine Spring Organizers LLP) Govindnivas, Nr. Panchvati Auto Services, Karnavati Club, S.G. Highway, Ahmedabad - 380055, Gujarat 1 7 Trilokchand Givindram Agarwal (Nominee of Pine Spring Organizers LLP) (Now known as HN Safal Realtech LLP) Amaltas Plantation Bungalow, Sarkhej Highway, Ahmedabad - 380 055, Gujarat 1 Total 10,000/- 3.10. The Voluntary Liquidator, as per the provisions of Section 497(2) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of the Registrar of Companies issued NOC in the said matter vide letter dated 31.07.2020, mentioning therein that "This office has no objection for finally Winding up the subject Company provided that the liabilities, if any of the Company that may arise subsequently for which Company's Directors shall be held liable." 3.14. The Voluntary Liquidator also furnished form no. 153 & 154, which are required to be filed with the office of Registrar of Companies, to the Office of the Liquidator as per the provisions of Rule 326 & 327 of Companies Court (Rules), 1959. 4. In view of above, the official Liquidator has therefore prayed that the Company M/s. Bharat Bobbins Limited may kindly be ordered to be dissolved in terms of Section 497(6) of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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