9911796707
TMI Blog2024 (6) TMI 715X X X X Extracts X X X X X X X X Extracts X X X X ..... k of Rajasthan, Karol Bagh Branch, New Delhi, was not disclosed. All said and done, it stares on the face of the record that in so far as the property in question is concerned, third party rights have already been created much before the initiation of the instant winding up proceedings. There is no iota of allegations by the Official Liquidator that there was any collusion between the Ex-Directors of the company (in liquidation) and respondent No.5 and/or for that matter, the respondent Nos.6 and 7 in any manner and by all means, that they bonafidely purchased the property in question when there was pending no winding up petition. It is directed that the aforesaid respondent Nos. 1 to 4 are held accountable and liable to pay Rs. 3,60,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the company maintained with the office of the ROC Registrar of Companies , it was found that following persons were the Directors of the company, namely Mr. Mukesh Hans, Mrs. Rashmi Hans, Mr. Sanjeev Hans, Mr Harsh Bhasin, Mr. Kapil Bhasin, Mr. Hardeep Oberoi and Ms. Hema Oberoi; and during the course of winding up proceedings undertaken by the Official Liquidator, notices were issued to the Ex-Directors to file the statement of affairs, which were responded by Mr. Mukesh Hans and Mrs. Rashmi Hans, who had appeared on 16.04.2002, 18.03.2003 and 16.10.2006 before the OL and their statements were recorded in terms of Rule 130 of the Companies (Court) Rules, 1959. The OL states that inter alia, it was revealed that the company (in liquidatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected in any of the bank accounts of the respondent company in liquidation, although details of as many as 14 bank accounts were submitted with the Official Liquidator by respondent No.1 2. Hence, the OL has prayed for prosecution of the Ex-Directors/Management of the company (in liquidation) under Section 538 of the Act and/or other appropriate directions. 6. Shorn of unnecessary details, evidently, respondent No.1 to 4 were the directors of the company in liquidation at the time of sale of the property in question to respondent No. 5 on 10.03.1999. It is also brought to the fore that there were two shops at 198/12-13, Ramesh Market, Garhi, East of Kailash, New Delhi, which were sold for a total consideration of Rs. 3,60,000/-. At the cost ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... law to deliver up; (d) within the twelve months next before the commencement of the winding up or at any time thereafter, conceals any part of the property of the company to the value of one hundred rupees or upwards, or conceals any debt due to or from the company; (e) within the twelve months next before the commencement of the winding up or at any time thereafter, fraudulently removes any part of the property of the company to the value of one hundred rupees or upwards; (f) makes any material omission in any statement relating to the affairs of the company;(g) knowing or believing that a false debt has been proved by any person under the winding-up, fails for a period of one month to inform the Liquidator thereof; (h) after the commencem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany does not subsequently pay for; (n) within the twelve months next before the commencement of the winding up or at any time thereafter, under the false pretence that the company is carrying on its business, obtains on credit, for or on behalf of the company, any property which the company does not subsequently pay for; (o) within the twelve months next before the commencement of the winding up or at any time thereafter, pawns, pledges or disposes of any property of the company which has been obtained on credit and has not been paid for, unless such pawning, pledging or disposing is in the ordinary course of the business of the company; or (p) is guilty of any false representation or other fraud for the purpose of obtaining the consent of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 besides respondent Nos. 2 and 3 and the position that emerges is that the amount for sale consideration of Rs. 3,60,000/- had been credited in the account of the company (in liquidation) at Bank of Rajasthan, Karol Bagh Branch, New Delhi, the details of which (bank account) had not been disclosed by the Ex-Directors/Management pursuant to the inquiries, which were initially conducted by the Official Liquidator. 8. Having heard the learned counsels for the respondent Nos. 5, 6 7 as well as respondent Nos. 1 and 2/Ex-Directors, namely Mr. Mukesh Hans and Mrs. Rashmi Hans, it is categorically brought out that the true and correct information had not been supplied by respondent Nos. 1 to 4 during the course of winding up proceedings by the Of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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