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TMI Blog2023 (2) TMI 787X X X X Extracts X X X X X X X X Extracts X X X X ..... That the Official Liquidator appointed M/s. Harish P. Jain & Associates, Company Secretary at the Office of Registrar of Companies, Gujarat, Ahmedabad to inspect the records of the said company maintained by the office of the Registrar of Companies, Gujarat to find out the assets and properties, liabilities, address of Registered Office, factory premises, Secured Creditors, and names and addresses of the Ex-Directors of the company. That as per the search report after taking inspection of the records of the Registrar of Companies, Gujarat by the company secretary it was indicated that the assets and properties of the company in liquidation consisted of two premises one being registered office situated at Yogi House, Old Padra Road, Baroda a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the said factory premises. 6) It is further stated in the report that the Official Liquidator filed compliance report by way of OLR No.180 of 2007 wherein praying various prayers including ratification for not taking possession of Registered office and factory premises of the company in liquidation. The same came to be allowed vide order dated 09.04.2007 passed in OLR No.180 of 2007, wherein it was further directed to invite claim from workmen under Section 529A of the Companies Act, 1956. 7) It is further stated in the report that the Official Liquidator filed OLR No.72 of 2007 inter-alia seeking permission to initiate proceedings under Section 454 (5) of the Companies Act, 1956 against ex-directors of the company in liquidation. The sam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the liquidator cannot proceed with the winding up of a company for want of funds and assets or for any other reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution of the company should be made , the Court shall make an order that the company be dissolved from the date of the order and the company shall be dissolved accordingly. 12) It is also stated by the Official Liquidator that prior to dissolution of the company, the Official Liquidator vide letter dated 15.06.2021 addressed to the Registrar of Companies, Gujarat, Income-Tax Department, Bombay Stock Exchange, Secured Creditors and Exdirectors of the subject company informed that the Official Liquidator proposes to dissolve the sai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urther carry out the proceedings of winding up. 16) The Official Liquidator, relying upon the auditor's certificate dated 26.8.2022 no balance 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. 17) Having heard the learned advocate for the Official Liquidator and on perusal of the record of this report and in facts of this case and considering the ratio laid down by the Apex Court in the case of Meghal Homes Pvt. Ltd. (supra), the report deserves to be accepted. The Company, named, M/s. Yogi Polyes ..... X X X X Extracts X X X X X X X X Extracts X X X X
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