2023 (2) TMI 786

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..... ER 1)Heard learned advocate Mr.Shivang Thacker for the applicant. 2)By this report under section 481 of the Companies Act, 1956, the official Liquidator has prayed for dissolution of the company, named, M/s. Mansukhram Textiles Pvt. Ltd. (In Liquidation), which was ordered to be wound up vide order dated 26.06.1985 passed in Company Petition No.111 of 1983. 3)The records indicates that the amou .....

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..... carry out further Liquidation process in "Gujarat Samachar" Gujarati daily and "Times of India" English daily on 01.10.2021 for inviting objections from Secured Creditors, Workmen, all Stakeholders and public at large for Proposed Dissolution in terms of order dated 18.08.2021 passed in OLR No. 128 of 2021. 6)However, in response to the said advertisement, Official Liquidator has not received an .....

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..... It has been further stated in the report that as per the balance certificate issued by the Chartered Accountants P. C. Rathod & Co. 29- 03.2022, funds available in the Company's Bank Account are as under : Cash : Nil Bank : Rs. 32,181/- FDR : Nil 9)It is further stated in the report that it is not possible to proceed with the winding up of the Company in Liquidation for want of funds and asset .....

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..... is available in the Bank Account of the Company. Moreover, no assets of the Company in liquidation are available. In light of the aforesaid facts, it was submitted that the report may be accepted and appropriate order of dissolution of the Company in liquidation may be passed as prayed for. 12) Having heard the learned advocate for the Official Liquidator and on perusal of the record of this repo .....

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..... of the company under liquidation to the Common Pool Account maintained by the Office of the Official Liquidator. 14) In case of any difficulty, the affected party, if aggrieved with the present order, may apply for reviewing the same as per the provisions of Section 559 of the Companies Act,1956. 15) Accordingly, the report is allowed in the aforesaid terms.
Case laws, Decisions, Judgements .....

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