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TMI Blog2022 (12) TMI 1247X X X X Extracts X X X X X X X X Extracts X X X X ..... n examining and verifying the Books of Accounts and other records of the company and to submit a report thereon. 4) Pursuant to the order dated 07.05.2004 passed by this Court, the Official liquidator vide his letter dated 24.05.2004 called upon the Ex-directors of the company including Voluntary Liquidator to: - (a) Handover to the Official Liquidator all the assets and properties of the company and Books and Accounts and other records on 28.05.2004. (b) File a Statement of Affairs of the company under section 454 of the Companies Act, 1956; and (c) Appear before the Official liquidator on 10.06.2004 for recording of their statement under Rule 130 of the Companies (Court) Rules, 1959. 5) It is further stated in the report that the Official Liquidator deputed his authorized officials at Surat on 28.05.2004 to take over possession of the assets and properties and Book of Accounts and other records of the company. On reaching at Surat, the officials of the Official Liquidator contacted Shri Ravindra V. Vepari and requested him to either come personally or send his authorized representative to join the Officials of the Office of the Official Liquidator at the time and place me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Official Liquidator that the said premises is mortgaged to Bank by the owner late Shri Surendra K. Agrawal, by depositing the Title deeds creating equitable mortgage. The said bank has further stated in its said letter dated 23.06.2004 that the Board of Nominees in Lawad Suit Nos. 1231,1237 and 1238 of 2003 vide its award dated 04.01.2003 has ordered that the Bank is entitled to recover its dues out of the said property and there is a permanent injunction from transfer, creating charge or entrusting possession to anyone. The said Bank has also requested for giving proper and reasonable opportunity before taking any further action concerning the said premises. 9) It is further stated in the report that on 28.05.2004, the representative of the Official Liquidator reached at S-547,548, J.J, Air-Conditioned Textile Market, Ring Road, Surat at about 11:35 A.M., to take the possession thereof as per schedule already fixed and intimated to the ex-directors of the company but neither any ex-director nor Voluntary Liquidator was present there. On entering the premises, it was observed that it is a combined shop of two units being nos. 547 and 548. The shop was found occupied and possessed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication No. 173 of 2004. Therefore the possession of the factory could not be taken. However, the physical inspection of the whole factory was carried out for preparing inventory of all the assets. Shri Vinod Trivedi, a Govt. Approved Valuer appointed by the Official Liquidator for preparing inventory and valuation report of all the assets of the company, was already with the representative of the Official Liquidator and carried out inventory of all the assets as found at the said unit. 12) It is further stated in the report that so far as the action taken by the Official Liquidator and the efforts made in connection with para 14 of the order dated 07.05.2004 passed this Court in Company Application No. 42 of 2004 are concerned, the Official Liquidator on making enquiries with Shri Rajesh Kumar Bansal on 28.05.2004 about books of accounts of the company, he informed that all the books of accounts and records of the company have been removed from the factory premises by Shri Shailendra Agrawal before handing over possession of the factory to him. However in response to the Official Liquidator's letter dated 24.05.2004, Shri Shailendra K. Agrawal, vide his letter dated 27.05.2004 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icers of the applicant bank. 15) It is stated in the report that, the Official Liquidator had filed Official Liquidator Report (Compliance Report) dated 05.10.2004 in Company Application No. 173 of 2004 filed by Kirtida Silk Mill, which was disposed vide order dated 22.02.2005 by this Court. As per order dated 22.02.2005 passed by this Court passed in Company Application No. 173 of 2004, this Court is of the view that since the matter is amicably settled between the parties, the Court has not adjudicated the issues involved in this application on merits. The relief claimed in prayer clause (A) of the Judge's Summons is, therefore, granted. So far as the relief claimed in prayer clause (AA) of the Judge's Summons is concerned, though the Court has not ratified the action of the Liquidator of voluntary winding up, the present application is, however, treated as the application under Section 536 (2) of the Companies Act, 1956 praying for the declaration that the transaction of sale and transfer of the properties of M/s. Arya Silk Mills Pvt. Ltd. (In Liquidation) both movable and immovable including land, building, temporary construction, plant and machinery situated at Plot N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roceeded further. Therefore, it is just and proper case to dissolve the aforesaid Company in the interest of justice. 19) It is stated in the report that during the process of NOC, prior intimation letters for dissolution of the subject company were sent to the Registrar of Companies, Gujarat, Income-Tax Department, Secured Creditors, Petitioner Creditor and Ex-directors of the subject company regarding proposed dissolution vide official Liquidator various letters dated 24.02.2022, 10.05.2022 and 29.08.2022. However, objection, if any, by any concerned, is not received by the Official Liquidator and therefore, the Official Liquidator has suggested that the subject company may be dissolved at the earliest by suitable order of this Court. 20) It is further stated in the report that, as per the Books of Accounts maintained by the Office of the Official Liquidator, the fund position of the aforesaid Company (In Liquidation) as on 22.02.2022 is Rs. NIL. The same has also been certified by M/s. Naimish N. Shah & Co., Chartered Accountant in his report as Auditor Balance Certificate of M/s. Arya Silk Mills Private Ltd (In Liquidation). 21) It is stated in the report that NOC from Regis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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